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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: Societe Generale

Societe Generale stories: 8 news summaries

SocGen Chief Resigns Amid Growing Outcry

Executive pay scandal, $6.4B fraud fallout
push Bouton to quit

Apr 29, 09 7:08 AM CDT
(Newser) - The chairman of Société Générale announced his resignation today amid growing public criticism of his performance, Reuters reports. Daniel Bouton had been scolded by Nicolas Sarkozy for his handling of the rogue trading affair that cost the bank $6.4 billion; last month the president attacked the... More »

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France • resignation • bank • Daniel Bouton • Societe Generale • Jerome Kerviel

Hackers Get Bank Accounts of Sarko's Dad, Ex-Wife

Investigators now believe thieves may have been politically motivated

Oct 31, 08 3:01 PM CDT
(Newser) - The same hackers who stole small amounts of money from Nicolas Sarkozy’s bank account appear to have gotten into the accounts of his father and first wife as well, the Times of London reports. They didn't steal money but rather set up phony cell-phone accounts. Police initially thought the... More »

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Nicolas Sarkozy • France • bank • savings account • bank fraud • French president • Societe Generale

 Banks Lead Europe 
 Market Plunge 

EU leaders' disagreements sow fear

Oct 6, 08 4:36 AM CDT
(Newser) - Financial stocks led sharp declines across European markets this morning after the continent's finance ministers failed to agree on a joint effort to stem the crisis. By 10 a.m. in London the FTSE was down 5.2%, with troubled banking giant HBOS plummeting 15%. In Frankfurt the Dax was... More »

MORE ABOUT:
Deutsche Bank • UBS • European markets • FTSE • CAC 40 • DAX • Societe Generale • HBOS • financial crisis

MARKETS

 Rally Goes On, Modestly

Cisco provides some good news, though investors not totally cheered

Aug 6, 08 3:42 PM CDT
(Newser) - Oil prices continued to fall, spurring modest gains for the markets today, but Freddie Mac’s enormous second-quarter loss signified that the housing and credit crises are not over yet, the Wall Street Journal reports. The Dow rose 40.30 to close at 11,656.07. The Nasdaq gained 28.... More »

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Dow Jones • Nasdaq • Freddie Mac • AIG • Cisco • S&P 500 • Societe Generale • oil prices

Rogue Trader Gets a Job

IT company hires
man behind biggest trading scandal
in history

Apr 26, 08 2:37 PM CDT
(Newser) - Jérôme Kerviel is working once again, despite having cost France’s Société Générale $7.68 billion in unauthorized trading. Released from prison a few weeks ago, the rogue trader is employed as an IT consultant for a French company specializing in networks and security, the... More »

MORE ABOUT:
France • information technology • Jérôme Kerviel • rogue trader • Societe Generale

 Rogue Trader to Sue SocGen 

Kerviel claims his accounts were in the black

Apr 3, 08 8:49 AM CDT
(Newser) - The rogue trader whose $7.8 billion in transactions nearly sank Société Générale has filed papers in preparation for a wrongful dismissal lawsuit, the Times of London reports. Jérôme Kerviel will claim the French bank has failed to prove he did anything wrong. He was... More »

MORE ABOUT:
France • credit crisis • bank fraud • Jérôme Kerviel • rogue trader • SocGen • Societe Generale • wrongful dismissal

France Frees Rogue Trader Kerviel

He'll be under 'judicial control' during probe
of $8B SocGen loss

Mar 18, 08 8:50 AM CDT
(Newser) - Jerome Kerviel, the trader accused of an $8 billion fraud that nearly brought down Societe Generale, has been freed by a Paris court after five weeks in detention, the Guardian reports. The trader, who faces charges including breach of trust and falsifying documents, will remain free while the case is... More »

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Paris • banking • rogue trader • securities fraud • Societe Generale • Jerome Kerviel

Second SocGen Broker Held in Kerviel Probe

Could derail rogue trader's chances of getting released

Mar 12, 08 10:23 AM CDT
(Newser) - Authorities have taken a second Societe Generale employee into custody and conducted a search of La Defense headquarters, as the probe into unauthorized securities trading that cost the French bank $7.6 billion expands, reports Bloomberg. Police are holding a broker from a bank subsidiary, said a SocGen spokeswoman. Another... More »

MORE ABOUT:
rogue trader • SocGen • risky trading • securities fraud • Societe Generale • Jerome Kerviel

8 Stories


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