8:25 am

Whew, not us!

For a moment, when the news hit that Société Générale was massively defrauded, I wasn't sure where or which office it was referring to. The article which came out mentioned the Singapore office and how large a presence it had in Singapore.

It also reminded me of that bugger
Nick Leesson. Fortunately, all is clarified here and I am feeling quite a bit of relief that he was based in Paris.

I think I WOULD feel a tad embarressed if it were Singapore :o
A lot of these buggers think it's a cushy job to come to Asia, asian women are easy prey, currencies are so much lower in ratio and you're paid in Euros, or USD. And you know what? it is, to some extent. But not Singapore. Not Hong Kong.

Once knew someone who worked for
Lloyd's of London. Posted to Singapore to help start off a small office. And he shared that a lot of HIS colleagues thought the same way. If you were posted to their Indonesia office, your career was pretty much fucked. But to Singapore? HK? Heh, you were on the way up....

Have worked for a boss who thought that he was god's gift too. It was a really scummy experience. Oh, and one Dom I met who thought he was gth equivalent to asian women. They gave me first hand experience of people who would never be able to cut the mustard at home. I'll be happy to share the details if you want, heh!

Anyways. Damn. Tough luck, Société Générale..... that's a lot of money to lose to supposedly one man. You sure he acted alone? REALLY sure? *wry grin*


I don't think I'm convinced.......

2 comments:

Barry said...

The party line is that this guy worked in the back office before he became a trader, and thus was intimately familiar with all the internal controls the bank used to prevent this kind of thing from happening.

I don't buy it either.

Fiona Kathleen Hogan said...

Barry,
I read that too. And my initial thoughts are.... hhmmm.....

Massive Scrapegoat.

Poor chap, I am beginning to sympathise with him already!