Kerviel’s Greed, Not Heroics
Posted on January 29, 2008
Filed Under Uncategorized |
How does one explain the sudden celebrity of rogue trader Jérôme Kerviel? The fanclub group on Facebook now has 1,441 members…
The comparisons to Che Guevara are perhaps the most offensive and also the most accurate in that just as Guevara was a mass murderer responsible for one of the most repressive totalitarian government in history in contrast to the popular image of him as a defender of the common man, Kerviel was no Robin Hood but rather a rogue trader motivated by personal greed who, according to the allegations, massively miscalculated the direction of European markets and is single-handedly responsible for a financial loss of epic proportions.
There is plenty of blame to spread around the financial aristocracy of France’s financial institutions, but Kerviel is no hero.
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My name is Jeff Nolan and I write Venture Chronicles. These are my thoughts on technology, innovation, management, public policy and pretty much anything else that I find interesting.
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