"Jerome Kerviel, the Societe Generale SA trader whose unauthorized bets led to the biggest trading loss in history, told prosecutors the bank cast a "complacent look'' on his practices. "As long as we were winning and it wasn't too visible, things worked out, no one said anything,'' Kerviel told police in a transcript cited by Le Monde, which was confirmed by the prosecutors' office. "I am convinced my managers turned a blind eye to the means and amounts in question.''"
French Rogue Trader Claims Societe Generale Turned Blind Eye"Three employees at Societe Generale in Paris have committed suicide in as many years, unions said on Tuesday, as they raised concerns about the stressful work environment at the scandal-hit bank...
The most recent incident, confirmed by Societe Generale, involved a trader who threw himself off a highway bridge in June last year nearby the bank's head office.
The man was in his 30s and a specialist in equity derivatives, like the rogue trader blamed for last week's losses -- Jerome Kerviel.
Union officials said the man killed himself just hours after he was reprimanded by management for losing 9-10 million euros ($13.31 million) in unspecified trades."
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