Mindboggling Trading Loss at Society General

A French Trader is being shown the door after French Blue Chip Bank Societe General reported a $7 billion fraud. Ho Hum. They plan to issue some shares and carry on.

The most serious thing is that this puts into doubt the risk management systems at some banks," said Fortis analyst Carlos Garcia.

Well No Shit Sherlock. I think that even Homer Simpson might be able to figure that one out. It makes Nick Leeson look like small time.