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Guest_chris c-t_*

Credit Suisse

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http://www.bloomberg.com/apps/news?pid=206...&refer=home

more rogue traders... how much of this cr*p can I believe.. very little.

Well I dunno, you could say that it is all very convenient that all these rogue traders out there.

OTOH, these people get desperate and take bigger and bigger risks until they are found out.

I certainly think that in uncertain times and a volatile market like this, people take bigger and bigger positions on wilder and wilder swings until they go up in a puff of smoke.

It is the nature of the arrogant b*stards that that business can attract. It's like gambling.

I am sure EDM will deny this of course. :)

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Guest Shedfish

a quick roguetrader-o-meter yields

Societe Generale

Credit Suisse

MF Global

HBOS

any more?

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You're aware, of course, that the bubble in the housing market has been caused by only a few rouge lenders? :lol:

Rouge lenders!? What, like Avon Cosmetics? ;)

Peter.

P.S. What is rouge anyway? Do laydeeeeze still use it?

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Guest Shedfish

there's a chinese bloke with a large head and a surfboard outside.. looks like he's bought his mates with him, and they're all singing something.

desperate...

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In the three years I worked there I could not believe some of the things that were going on. Its amazing that there has been so few scandalous stories about Credit Suisse. When they reported profits at the end of last year I was dubious to say the least.

I reckon worldwide there is still about 2.5 trillion US$ to be "Reported as revisions" we are a long long way off the end of this debacle.

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at top investment bank 'covered up losses to protect their bonuses in £1.4 bn scam'

Last updated at 14:57pm on 20th March 2008

Canary Warf based Credit Suisse discovered a £1.4 billion scam by traders trying to protect their bonuses

A leading City investment bank has uncovered a £1.4 billion scam by rogue traders desperately trying to protect their bonuses.

Credit Suisse, which employs hundreds of people in Canary Wharf, discovered the problem last month but today is the first time it has revealed that traders had cooked the books.

Traders are believed to have deliberately tried to cover up the scale of their losses in complex financial instruments, probably to boost their year-end bonuses.

Originally the bank said that the traders had accidentally "mismarked" the prices of the financial instruments.

But today it said that it had "determined that the pricing errors were, in part, the result of intentional misconduct by a small number of traders".

The news raises fears that other banks are sitting on massive losses which have yet to come to light.

Credit Suisse said all the traders involved had now either been fired or suspended.

The bank has always refused to name any of the traders involved but it was revealed by the London Evening Standard that the team was headed by Kareem Serageldin, a managing director at the bank who left last month.

Credit Suisse admitted that an internal review "found that controls put in place to prevent this activity were not effective".

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Gordon Brown has discovered some rogue civil servants have not ony overspent the public spending budget, but also took the UK to war based on a pack of lies. I am sure when the review is completed in the next decade, heads will roll.

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  • 293 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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