Thursday, January 24, 2008

Jerome Kerviel Is In Heavens- Jerome Kerviel Baise Au Ciel

With all the stuff happening today, I nearly forgot to mention the new French celebrity, Jerome Kerviel.
If you haven't followed, he is le rogue trader who supposedly made 5B Euros (that's $7B for you math-impaired art people) evaporate through fictitious trades at Societe Generale (incidentally, my bank). The comments over at the WSJ blog are absolutely hilarious, since the petit joueur Nick Leeson as well as ECB Jean-Claude Trichet (a.k.a "I Will Never Lower Any Interest Rate As Long As The German Remember The Hyperinflation Of The Weimar Years") are contributing thoughtful, delicate comments, and so is FBC! personal fav' Alan Greenspan.

Speculation is rampant as to the whereabouts of Mr. Kerviel. As a French-educated trader, I'm sure Mr. Kerviel was trying to apply some of Georges Bataille's Economics theories (see La Part Maudite, can't bother to check the English title, sorry). Now it has to be determined if he has also crammed Lonely Planet's guides to rough travel, in, hmmm. The Bahamas? I think he must be in Le Club Med, perhaps in Egypt with Osama Bin Laden or maybe he moved to Brasil with Lord Lucan. Or with Fatboy Slim, he's in Heavens. Better yet, since Sarko has to leave his unmarried girlfriend for his trip to India, Jerome and Carla are having a good time together in Switzerland.

Now the question is...will the French government raise taxes so French citizens have to underwrite the losses of one bank, as it was when the Credit Lyonnais screwed up big time in the 1990s?

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