Societe Generale in risk by Lenka Lehenova

Companies, banks are very important part of economy. They earn a lot of money and their actions influence all world. To be honest I don't understand it very well. It is just only about numbers and money. Of course I like money, who don't like them? But to understand the mechanism how it is working is a little difficult. In France there are a lot of banks. Societe Generale is very popular bank because it is the second biggest bank in France. And now it is popular a little bit more because of situation which has happened. Societe Generale misses 4.9 milliard euros. How it is possible? Who is responsible for it? Jerome Kerviel is a name of young 31 year old trader who is actor of this action. He was working there since 2000 but now he together with his superiors lost job. His firstly simple transactions created a big defect and troubles to the bank. Kerviel said that he was sure his bosses knew about his massive hided transactions, that they had to notice something suspicious. He also tried to persuade us that he did it for bank, that it was his goal number 1 to earn money for bank. The bank has big troubles now and its place on market is in risk. It can influences also the other banks in many countries.

related story: http://news.yahoo.com/s/ap/20080129/ap_on_bi_ge/france_societe_generale;_ylt=AubvNF8jZUYHxrnS2RxVKkms0NUE

by Lenka Lehenova for PocketNews (http://pocketnews.tv)

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