* Posts by Simon Reap

1 publicly visible post • joined 25 Jan 2008

Rogue trader blows sox off control systems

Simon Reap
Dead Vulture

Gambled?

"In January, Kerviel went the opposite way and gambled that the markets would rise, with disastrous results."

Virtually *all* financial deals like this are gambling. It's so depressing that the world has developed so that such gambling is condoned and even encouraged. Who in their right mind can believe that such things "generate wealth"? Don't get me started on leveraged deals. Absolute madness.