Karla Adam, Washington Post
De Rogueur: Another Asshole Causes $2 Billion Loss
[WAPO] A rogue trader for the Swiss bank UBS was arrested in London on Thursday, authorities said, and is suspected of causing an estimated $2 billion loss in unauthorized trades.
How many of these "unusual" instances of blatant theft will be tolerated in financial markets before governments begin to do their civic duties?
Clearly, whatever rules have been put in place since the global economic collapse to prevent such occurrances are grossly inadequate.
What's also blatantly obvious is that the system and management is entirely complicit in these activities. It is simply not possible that these individuals are acting entirely alone.
Would anyone be surprised if these "rogue" traders are being set up as patsies to test the system for loopholes to exploit?









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