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Post by J (Hot Mess) on Jan 27, 2008 12:51:45 GMT -5
www.msnbc.msn.com/id/22867180This guy really fucked up one of our clients. Its shocking that he was able to get away with this...and that it happened now, of all times, with the markets the way they are.
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Post by lumpy on Jan 27, 2008 14:11:17 GMT -5
7 billion? Holy shit!
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Post by J (Hot Mess) on Jan 27, 2008 14:34:50 GMT -5
Lumpy..I know.
People thought Nick Leeson was bad when he brought down the UK's Barings bank by a billion back in the mid 90's.
Its just unfathomable that they did not catch on to him somehow during all of it. And he didnt profit from it. What is the motive?
Bastard. There goes another client down the toilet.
Anyone hiring out there? I need a new career.
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Post by lumpy on Jan 27, 2008 15:49:30 GMT -5
Someone's got a lot of splaining to do...  |
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Post by Dave on Jan 27, 2008 17:51:04 GMT -5
Is there any reason why I shouldn't think this is funny? I find it hard to care about the loss of billions of dollars - If you have billions to lose, I tend not to feel too bad. Am I wrong here?
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Post by lumpy on Jan 27, 2008 17:56:38 GMT -5
Is there any reason why I shouldn't think this is funny? I find it hard to care about the loss of billions of dollars - If you have billions to lose, I tend not to feel too bad. Am I wrong here? Who has billions to lose? An investment banker (which I'm assuming that's what this guy is) represents thousands of clients. I'm guessing he "lost" a lot of peoples money. |
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Post by Dave on Jan 27, 2008 18:08:24 GMT -5
Why should I feel bad? Seriously, I genuinly want to know if I should care. As of now, I don't.
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Post by lumpy on Jan 27, 2008 18:15:03 GMT -5
Why should I feel bad? Seriously, I genuinly want to know if I should care. As of now, I don't. Cause J might lose a client over it?  |
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Post by freckles on Jan 27, 2008 18:17:50 GMT -5
I would be Her Client  I dont have any money though  |
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Post by J (Hot Mess) on Jan 28, 2008 0:08:50 GMT -5
Oh its ok, I dont care that someone doesnt care if I lose a client.
I was posting it more for the economical reasons and the fact that it will affect many. But thanks. Its fine though...I had posted that other part as an afterthought.
People who dont follow the financial markets probably really wont show interest. Those that do likely will.
PS- It was the bank that lost billions...not one rogue trader personally. He will just go to jail.
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Post by Dave on Jan 28, 2008 7:01:50 GMT -5
How will the bank recoup its money?
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Post by fluffypants on Jan 28, 2008 12:16:25 GMT -5
This guy is a rookie. My exwife could blow through that much money in less than a week.  |
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Post by freckles on Jan 28, 2008 13:26:11 GMT -5
I allways wonder where all that money goes When the stock falls in price They paid *SOMEBODY* that money Where is it ? |
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Post by Saucy on Jan 28, 2008 14:42:43 GMT -5
The money goes to the people who were smart enough to close out before the prices drop.
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Post by J (Hot Mess) on Jan 29, 2008 13:10:41 GMT -5
How will the bank recoup its money? Theyve unwound most of the positions... I have a super interesting article (IMO) on the dude and how it all went down if anyone wants it let me know..too long to fit here and I dont have the URL. |
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