French Minister Says Societe Generale Controls Failed
456201
PARIS, Feb. 4 -- French Finance Minister Christine Lagarde gave Societe Generale a mild rebuke Monday in a report that largely backs up the bank's account of how it lost $7.1 billion last month in the largest trading scandal in banking history.
709108
InfoWorld - The huge losses reported by French bank Soci??t?? G??n??rale, apparently caused by a rogue trader with inside knowledge of the bank's procedures, don't necessarily point to an IT systems failure but rather to poor management of those systems, analysts say.
433403
Societe Generale said Sunday that a trader who evaded all its controls to bet $73.5 billion Â more than the French bank's market worth Â on European markets hacked computers and "combined several fraudulent methods" to cover his tracks, causing billions in losses.
76337
Scandal-hit Societe Generale shares the plight of people who take out an insurance policy to cover the remotest eventuality only to find it pays out a pittance, the French bank disclosed on Monday.
89325
French President Nicolas Sarkozy was forced into a cabinet rethink on Monday after losing a senior minister in parliamentary polls that gave him an unexpectedly small majority, but his reforms remained on track.
118617
France's prime minister says his government will defend Societe Generale against any hostile takeover bids.
262796
A senior adviser to French President  Nicolas Sarkozy said France remained opposed to any hostile bid  for Societe Generale , the French bank hit by a  trading scandal.
27465
France warned foreign banks on Tuesday not to try to grab control of Societe Generale as it reels from losses blamed on a rogue trader, but shares in the bank spiked higher on takeover speculation.
180476
The French government is calling for tighter risk-control measures and a broad review of bank rules in response to losses from the trading scandal at SociÃ©tÃ© GÃ©nÃ©rale.
413050
Senior French politicians stepped up calls for top managers at SociÃ©tÃ© GÃ©nÃ©rale to resign over a rogue traderâs deals that cost the bank more than $7 billion.
261151
French bank Societe Generale described Sunday how one of its traders allegedly carried out a $7.2 billion (&#8364;4.9 billion) fraud, how the loss came to light and what it is doing to ensure such a case does not recur.
684264
Could Societe Generale's $7.2 billion loss at the hands of a rogue employee have been prevented?
433451
French bank says family problems and mental fragility led its rogue trader to squander â¬4.9bn
24092
The French parliamentarian whose attempts to free two French hostages held in Iraq have provoked widespread official and media criticism hit back at attacks on his failed initiative.
437377
Too many business interests are clinging to a failed status quo and resisting necessary governance reforms, the government's top securities regulator said Thursday.
280541
Creating a defence and aerospace industrial champion centered on France may be impossible for Nicolas Sarkozy to engineer during his last days as finance minister, as political considerations cloud the ...
185900
France's Societe Generale says fraud was hidden using "sophisticated and varied techniques."