Posts Tagged ‘money’

Crisis of Credit

Monday, February 23rd, 2009

This Video clip i found at technorati shows visualized the reassons for the worldwide money crisis and why it also effects YOU! Easy to understand whats going on at the world bank market. Now it is not any more a strange word you have heard somwhere! So check it out and you knwo how to handle in times of the credit crisis.

Jérôme Kerviel blows 4,9 billion Euro away for Société Générale

Saturday, January 26th, 2008

Jérôme Kerviel is a future trader at the finance service bank Société Générale in France an lost on monday 4,9 billion Euro what are about 7, 1 billion US Dollar. Future Trading is like betting on the Wall Street and he had a very bad day. Jérôme Kerviel was in the Controlling Office at Société Générale and found a way to not get controlled himself. Usually nobody alone is allowed to trade with such big money but he hacked the system or there was an error in the system.

Some people even think that Jérôme Kerviel was the starting piont in the Wall Street Fall on Monday. This is really funny because he would be the reason the Bank of America changed the rates. Shure Jérôme Kerviel will be written in every historybook of finance for loosing the highest amount in history.

7,1 billion are not peanuts, this is money!