BUSINESS
03/28/2008 02:45 am ET | Updated May 25, 2011

SocGen Seeks Scrapegoat For $7.1 Billion Scandal

Senior politicians here increased calls for the resignation of top executives at Société Générale, ahead of the board's regular meeting, scheduled for early Wednesday.
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"The pressure is very, very strong," one of the bank's directors said. "The politicians want a head to roll."

The director, who declined to be identified because of the delicacy of the situation, predicted that the bank's chairman and chief executive, Daniel Bouton -- and possibly one or two other senior managers -- would be asked to step down as early as Wednesday. But he and other board members stopped short of saying that Mr. Bouton's departure was a foregone conclusion.

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