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COMMENTS: The Man Who Broke the Bank
The thirtysomething Parisian banker who secretly lost $7bn of his employer's money in illicit wrong way bets on the financial markets was an irresistible story. Jerome Kerviel did not actually drive Societe Generale into bankruptcy but, as CBS' Richard Roth dryly pointed out, the bank does not expect him to claim his uncollected year-end bonus "if he comes out of hiding." In Kerviel's favor, the bank stated he "was not trying to enrich himself," noted NBC's Ned Colt. He was just "going double or nothing over and over again," as ABC's Jim Sciutto (embargoed link) put it. "Kerviel used to work in fraud prevention so he may have known how to fool his supervisors."
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