Eight billion gone from petty cash.

[xelasnave]

I dont have a link and wonder could I have dreampt that a bank let a worker loose 8 billion gambling with the depositers funds..

How does everyone feel about the notion of saving now?

That bank should be struck off and those responsible for administration locked up and their wages re paid as they did little to justify their receipt.

So thats one how many more of these problems remain un expossed?
alex:):):)

[duncan]

Like i said the other night Alex, Not one of them is worth what they get paid!!!
Cheers:lol:

[duncan]

Hey Alex check out the storms in Warrego Maranoa area. Here's the link
http://mirror.bom.gov.au/products/IDR673.loop.shtml
Cheers:thumbsup:

[xelasnave]

It is all that AL Gores fault bringing global warming to the world I reckon.

Either him or his mate AL Ninio..

Well first year it has not been a bush fire problem... have not seen a fire for a while now but the fuel sure is building up now.

alex

[duncan]

:lol::lol::lol::rofl::rofl::rofl::l ol::help:
Al Ninio Me thinks,LOL

[Starkler]

Heres a link (http://edition.cnn.com/2008/BUSINESS/01/24/societegenerale.fraud/?iref=hpmostpop)

I found this comment particularly interesting...

" Bouton said he offered his resignation but the board decided not to accept it."

Oi vey, what does a man have to do to get sacked?

[xelasnave]

Thanks for the link...
being a suspicious sortta person I wonder if this guy really did the damage or if he was elected fall guy...

How can they have a "position" that is not in the system that they are legally responsible for?? if it was outside trading how does the bank get caught with it..so the bank must have given him authority and so it is their fault... and these folk present themsleves as gaudians of your money..mmm

I also find it funny that they had to fix it all up on the two days the market was at rock bottom ... It was all his fault mmmm ..the fault lays with the man who gave the kid a gun and did not stay to see what he was shooting in my book... still when the bank pays the bonuses to executives I wonder which one will not get a bonus... oh no ones to blame bonuses for all.

alex

[Outbackmanyep]

Might have been "Joe" the Banker.......and im not using rhyming slang either!

[avandonk]

Thats almost two Hubbles!

Those highly overpaid twits who dabble in high finance in front of their screens think it is a game. Yes it is a game, where twits in one room try to steal off twits in another. This happens all around the Earth while you sleep. The real trouble is it is NOT their money. Never forget it is YOUR money Ralph! This guy just got a little overexuberant!

I would like to know who now has the $8 Billion.

Something I would like to point out for every dollar gained on these markets someone some where loses a dollar.

Except for the US Gov as they just print more.

Bert

[xelasnave]

Bert said...Something I would like to point out for every dollar gained on these markets someone some where loses a dollar...er I think you forgot the commission on the contract;).
alex:):):)

[Zuts]

Hi,

This is very sad, that a criminal in a trusted position with enough back office systems knowledge to avoid detection and circumvent bank security systems can do such a thing.

This is the second biggest bank in France and probably employs around 50,000 people most of whom may lose their jobs if it goes under.

Paul

[leon]

Banks wont go under, they will just increase your fees.

leon

[Zuts]

Barings bank had the same problem, a rogue trader lost 1 billion. Following this ING bought the entire bank for 1 pound, this means they assumed all Bearings Debts. http://en.wikipedia.org/wiki/Barings_Bank

Westpac lost 2 billion in the eighties lending to Alan Bond and they very nearly went under.

I dont know about you but if my fees increase too much then i will go somewhere else.

Paul

[Glenhuon]

We live in a world of ephemera, its only numbers on a screen nowadays, yesterday it was numbers in a ledger. Think of it this way, if the big NEA takes a poke at us someday, keep hold of the printed dollars, they'll be handy for lighting the cooking fire if you manage to find a cave to hide in :)

Bill

[Zuts]

Admittedly if the NEA takes a poke then todays problems will be small fry, can you just imagine the resale value of my C11 with all that dust floating around :)

Paul

[Ric]

I think I might just keep all my money in a sock under the mattress at least I wont have to pay the bank a $1.50 whenever I want to use some of it.

Cheers

[GrahamL]

The ceo has declined a salery until june 30 by the looks :):thumbsup:

futures traders !!..gotta love the ability to lose something that never
really existed put a dollar value on it..blame one person and move on .
IM ..h ..o all board members and senior management share equal
responsibility in this mess...will they be held accountable??

[Glenhuon]

Then we'd all be thinking that some small fluffy clouds and a patch of blue sky would be nice LOL