French bank SocGen says hit by $7.1 billion fraud

Good God. How does one even let this happen??? And a major bank at that. Makes me question the safety of banks right now...what with the general recession atmosphere around the U.S. and all. Anyways, here is the article. Discuss. Speculate as to how you can NOT KNOW that you've been had out of 7 Billion Dollars. I mean, come on..this didn't happen overnight I'm sure. How could someone not have noticed this over time?


French bank SocGen says hit by $7.1 billion fraud

This, along with the bomb threat that closed the world bank.. stand out as related to the current economic crisis.

.... somethings going on, because they know the interest rate cut isnt going to work.
All it is designed to do, is buy a week. In this week, the major players MEET! ( world economic forum ) and put into plan the main concepts of the economic breakdown

Originally posted by Agit8dChop
This, along with the bomb threat that closed the world bank.. stand out as related to the current economic crisis.

.... somethings going on, because they know the interest rate cut isnt going to work.
All it is designed to do, is buy a week. In this week, the major players MEET! ( world economic forum ) and put into plan the main concepts of the economic breakdown

Agit8dChop,

This is only the tip of the iceberg we will see more of this sort of fraud surface. I don't believe a total economic collapse will happen, but if information like this keeps happening it just may.

We are a world economy now and what affects one, effects all especially if fraud at the bank levels occurs in the multi-billions over and over.

Great find to the OP.

something seems fishy when they blame 7.1 BILLION in lost money on a single person, who mysteriously gets away.... something doesnt add up.

maybe another Enron and they're trying to find a scapegoat?