What would your boss do if you lost $7 Billion?

[Rhoto]

If he had stolen it, I would've felt differently. But this dumb ass just simply lost it.

http://www.washingtonpost.com/wp-dyn/content/article/2008/01/24/AR2008012401025.html?hpid=moreheadlines

 

[MacAvoy]

Its a slipperly slope, once you lose on a big trade ($1M) and you learn how to hide it. Next thing you know your hiding $10M, then $1B, then $7B, the thing is your always trying to double up and chase your losses but you can't stop once you go so far, its human nature and its how casinos make so much money.

 

[Rhoto]

Aye, that can explain the seven billion, but I find it really hard to believe that the accountants wouldn't notice the first billion, let alone the seventh.

 

[Bible_Belt]

He will do a couple of years in jail, then make millions working as a security consultant, like the character from Catch Me if You Can. I also read about a very successful bank robber who did the same after he was eventually caught.

 

[Rhoto]

Eh, I don't think so. He had worked in the bank's security (looking over traders shoulders) so he knew how to get around the system. I don't see him getting hired for millions, but he may write a book.

 

[joekerr31]

there are 6 billion people in the world. 99% of them will live pretty hum drum lives.

this guy, for better or for worse, has one hell of a story to tell.

not many people can say they've blown 7 billion dollars in their lifetime.

 

[Quiksilver]

There's always people in every community that need to be clubbed to death.

 

[comic_relief]

Eh, I don't think so. He had worked in the bank's security (looking over traders shoulders) so he knew how to get around the system. I don't see him getting hired for millions, but he may write a book.

disagreed, he can make the system better rather than worse.

I don't know if anyone will since the trust issue is probably a problem.

comic_relief

 

[djtdot]

Its a fraud, I don't think he 'lost' it.

 

[joekerr31]

imagine how many escorts you could get for 7 billion dollars?

instead of a three-some you could have a 300 million some.

 

[thehexman]

The point that most people are missing is that trading stocks it's impossible to simply destroy money, the money was traded to other people using stocks or futures as investment vehicles to do so. I wonder who these people are?

 

[LostAndConfused]

When I first heard this story I thought that his boss would talk to somebody who knows somebody who heard about somebody that can "take care of the man who lost 7 billion"

If you know what I mean.

 

[MacAvoy]

imagine how many escorts you could get for 7 billion dollars?

instead of a three-some you could have a 300 million some.

Your high end phone book escort will cost you $500, you could get 14 million escorts at that price.

How your high end Hollywood escort probably costs more like $10k, you'd only be able to afford 700 000 escorts.

 

[SmoothTalker]

Apparently the judge threw out the fraud charges today..

So the guy wasn't trying to run a scam, he was just stupid (?)..

But he's said to have been some sort of genius, so that doesn't make sense.

Its an extremely bizzare story.

 

[Rhoto]

Really? I recall reading, (can't say for sure) that he hacked the systems..

 

[comic_relief]

Apparently the judge threw out the fraud charges today..

So the guy wasn't trying to run a scam, he was just stupid (?)..

But he's said to have been some sort of genius, so that doesn't make sense.

Its an extremely bizzare story.

sometimes, geniuses have no common sense. Plus, he was probably trying to hide his mistake.

comic_relief