{"id":1872,"date":"2008-01-31T07:39:13","date_gmt":"2008-01-31T12:39:13","guid":{"rendered":"http:\/\/chimeraobscura.com\/vm\/in-equity\/"},"modified":"2008-01-31T07:39:13","modified_gmt":"2008-01-31T12:39:13","slug":"in-equity","status":"publish","type":"post","link":"http:\/\/chimeraobscura.com\/vm\/in-equity","title":{"rendered":"In Equity"},"content":{"rendered":"

Speaking of not being able to handle prosperity, the first details of Jerome Kerviel’s testimony have been leaked<\/a>:<\/p>\n

As of Dec. 31, 2007, my gains had reached \u00e2\u201a\u00ac1.4 billion ($2 billion), which I had not declared to the bank. At that point I had been overtaken by events and didn’t know how to present this to the bank. It represented undeclared cash of \u00e2\u201a\u00ac1.4 billion. No one else had ever realized such a sum, which represented 50% of the total result of the equity-index division of SocGen. I didn’t know how to deal with it, I was happy and proud of myself, but I didn’t know how to justify it. Thus I decided not to declare it, and to hide the sum, I created an opposite fictional operation.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Speaking of not being able to handle prosperity, the first details of Jerome Kerviel’s testimony have been leaked: As of Dec. 31, 2007, my gains had reached \u00e2\u201a\u00ac1.4 billion ($2 billion), which I had not declared to the bank. At that point I had been overtaken by events and didn’t know how to present this … <\/p>\n

Continue reading “In Equity”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[27],"tags":[],"class_list":["post-1872","post","type-post","status-publish","format-standard","hentry","category-big-business"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4C7K-uc","jetpack_likes_enabled":true,"jetpack-related-posts":[{"id":1868,"url":"http:\/\/chimeraobscura.com\/vm\/risky-business","url_meta":{"origin":1872,"position":0},"title":"Risky Business","author":"Gil","date":"January 29, 2008","format":false,"excerpt":"It's gettin' so a businessman can't expect no return from a fixed fight. Now if you can't trust the fix, what can you trust? For a good return, you gotta go bettin' on chance, and then you're back with anarchy. Right back inna jungle. \u00e2\u20ac\u201dJohnny Caspar, Miller's Crossing In the\u2026","rel":"","context":"In "Big Business"","block_context":{"text":"Big Business","link":"http:\/\/chimeraobscura.com\/vm\/category\/big-business"},"img":{"alt_text":"","src":"http:\/\/www.assoc-amazon.com\/e\/ir?t=virtualmemories-20&l=as2&o=1&a=0312420366","width":350,"height":200},"classes":[]},{"id":5010,"url":"http:\/\/chimeraobscura.com\/vm\/nuclear-family","url_meta":{"origin":1872,"position":1},"title":"Nuclear Family","author":"Gil","date":"February 16, 2010","format":false,"excerpt":"I've tried to avoid writing about politics and politicians for the last few years. This post is a pretty clear example of why I chose to do that. I read a news item this morning about Obama's announcement of $8 billion in loan guarantees for nuclear reactor construction. Awesome, thought\u2026","rel":"","context":"In "Politics (explicit)"","block_context":{"text":"Politics (explicit)","link":"http:\/\/chimeraobscura.com\/vm\/category\/politics-explicit"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1054,"url":"http:\/\/chimeraobscura.com\/vm\/and-they-said-id-never-amount-to-anything","url_meta":{"origin":1872,"position":2},"title":"And they said I’d never amount to anything","author":"Gil","date":"July 27, 2006","format":false,"excerpt":"I'm interviewing a pair of companies this morning for an article in my September issue. Their combined 2005 revenues were $126 billion. One's a major drug company, the other a major healthcare distributor. Margins are a funny thing: the drug company had around $52 billion in sales, with a cost-of-goods\u2026","rel":"","context":"In "Big Business"","block_context":{"text":"Big Business","link":"http:\/\/chimeraobscura.com\/vm\/category\/big-business"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2105,"url":"http:\/\/chimeraobscura.com\/vm\/billion-dollar-baby","url_meta":{"origin":1872,"position":3},"title":"Billion-dollar baby","author":"Gil","date":"June 19, 2008","format":false,"excerpt":"Today I shook hands and exchanged business cards with a gentleman whose personal worth exceeds $2 billion.","rel":"","context":"In "Big Business"","block_context":{"text":"Big Business","link":"http:\/\/chimeraobscura.com\/vm\/category\/big-business"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":789,"url":"http:\/\/chimeraobscura.com\/vm\/year-zero","url_meta":{"origin":1872,"position":4},"title":"Year Zero?","author":"Gil","date":"January 6, 2006","format":false,"excerpt":"A week or so ago, I mentioned a whole lot of reading that I'm doing as part of my attempt to understand what can be done to help New Orleans recover from the devastation of last August's hurricane. The fact that I'm starting with Virginia Postrel and Jane Jacobs probably\u2026","rel":"","context":"In "New Orleans"","block_context":{"text":"New Orleans","link":"http:\/\/chimeraobscura.com\/vm\/category\/travel\/new-orleans"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1019,"url":"http:\/\/chimeraobscura.com\/vm\/pfed","url_meta":{"origin":1872,"position":5},"title":"Pf***ed","author":"Gil","date":"July 7, 2006","format":false,"excerpt":"Sorry for the lack of posts, readers! I'm really busy on the home-stretch of that Top Companies special issue. Gotta finish the final profile today, so's I can head to the shore tomorrow without worrying about it. I decided to save the biggest one for last: Pfizer. As you may\u2026","rel":"","context":"In "Pharmaceuticals"","block_context":{"text":"Pharmaceuticals","link":"http:\/\/chimeraobscura.com\/vm\/category\/big-business\/pharmaceuticals"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"http:\/\/chimeraobscura.com\/vm\/wp-json\/wp\/v2\/posts\/1872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/chimeraobscura.com\/vm\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/chimeraobscura.com\/vm\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/chimeraobscura.com\/vm\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/chimeraobscura.com\/vm\/wp-json\/wp\/v2\/comments?post=1872"}],"version-history":[{"count":0,"href":"http:\/\/chimeraobscura.com\/vm\/wp-json\/wp\/v2\/posts\/1872\/revisions"}],"wp:attachment":[{"href":"http:\/\/chimeraobscura.com\/vm\/wp-json\/wp\/v2\/media?parent=1872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/chimeraobscura.com\/vm\/wp-json\/wp\/v2\/categories?post=1872"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/chimeraobscura.com\/vm\/wp-json\/wp\/v2\/tags?post=1872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}