do the French take financial crime more seriously?
by grimgraphix - 11/4/12 12:52 AM
Apparently the French take financial crimes much more seriously than Americans do.
Former financial arbitrage trader Jerome Kerviel is the most indebted man on the planet, owing his former employer $6.3 billion.
The amount Kerviel owes to French bank Societe Generale for fraudulent trades made in 2007 and 2008...
...a stark comparison to the fines levied against some of the world's largest financial institutions. In 2010, Goldman Sachs agreed to a $550 million settlement with Securities Exchange Commission, paid in part to investors and the U.S. government, which the SEC described as the largest settlement in history against any Wall Street firm.