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Piton Guiraud-Le Maresquier Partner Olivier Piton on several rogue trading scandals involving French traders.
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So Jay Hawkins two billion dollar loss being attributed to a gigantic trade name by an employee named Bruno exceed it -- not the first trade of the scrap a lot of headlines for.
Was -- a big amount of money and reputation for his firm.
On the screen from visual they have Goldman Sachs on unpaid leave after the SEC sued the firm over a notorious investment referred to as the abacus.
CDO.
General -- -- was sentenced to three years in prison for his role in a rogue trading scandal at Societe Generale and there's something else these three men have in common.
They're all French.
Coincidence.
-- He's a French native and partner -- -- law firm that helps American businesses set up shop in Europe all right this is not beating up the French traders here but.
What is the characteristic that they all seem to have that that is hurting their farm.
It's where he's the first question he's.
How would you poster board that so many times wounds can be broken so easy.
So before being mean traders these I mean whatever they are French wherever they -- French.
Or from and over -- -- -- the first question is.
Why is it's so easy to -- to break those -- OK but aside from that is their corporate incidents here.
That these three gentlemen are French and took big bets or did -- -- I don't think varies a coincidence sightseeing.
Those French traders off.
Train you -- to.
Full global rules and to try to go beyond those rules sometimes the question is you the wounds are.
-- you know and if if you.
And responsibly -- don't know when and if everything -- -- Usually they don't break proves so the question is once again.
Why is -- still posted so it's so easy bring about the French education where if it's not clearly stated -- Go in and outside of the lines.
I believe that it's French people -- -- -- because they are -- what they do.
We expect -- To grew.
As far as they can.
They have imagination and they do a lot of things on the you need to ensure that should -- long boss.
All of you give the rules in -- to expect booms if if it's not absolutely sure that those -- can be photo and you think can be broken then this is the beginning of mystics.
Almonte -- three French traders and the one that certainly on on the hook for about two billion in losses of JPMorgan.
Good to have you here of the EPA think -- of if you keep song is an attorney with the Paris bar man.
