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Societe Generale

Banks Fined $2.3 Billion For Market Rigging

Reuters | Posted 02.03.2014 | Business

BRUSSELS (Reuters) - EU antitrust regulators fined six financial institutions including Deutsche Bank, Royal Bank of Scotland and Citigroup a record t...

World Leadership Forum: Free Markets Meet Sustainable Development

Lia Petridis Maiello | Posted 11.27.2013 | Business
Lia Petridis Maiello

The 13th Annual World Leadership Forum organized by the Foreign Policy Association in New York City offered a cross-section of facts and opinions on the global economy, financial markets and sustainable development with five high-profile panels.

Former Executive Arrested In Major Scandal

Reuters | Posted 02.19.2013 | Business

* Chan Ming Fon to appear in court on Friday * U.S. authorities say Chan paid $10 million for role in fraud * Olympus a...

When Banks Become Pirates

Reuters | Posted 08.25.2012 | Business

* Banks seizing ships from defaulting owners * Banks putting in ship operators to avoid selling at loss * Shipping marke...

Blame it on Hormones: Men are the Cause of Today's Problems

Dr. Sasha Galbraith | Posted 08.11.2012 | Business
Dr. Sasha Galbraith

What if Facebook's all-male Board of Directors had chosen a female investment banker to head up their ill-fated IPO? What if the "London Whale" or his male boss had been a woman? What if Enron's bad boys had been girls?

French Trader Sues Bank He Allegedly Cheated For Billions

Reuters | Posted 06.27.2012 | Business

* Lawyer alleges manipulation of taped interview of Kerviel * Says 6 out of 12 hours of total interview time were cut * ...

Bank's Bold Program Not Working, Raising Credit Crunch Concerns

The Huffington Post | Bonnie Kavoussi | Posted 01.05.2012 | Business

The European Central Bank's generous lending to banks is not boosting liquidity in the European economy as much as intended, according to a leading Fr...

ECB Action Not Enough Save European Banks From S&P Downgrade Threat

Posted 12.23.2011 | Business

The half a trillion euros the European Central Bank pumped into the financial system buys hard-hit banks valuable time but will not in itself protect ...

Moody's Downgrades Top French Banks

Posted 12.09.2011 | Business

Ratings agency Moody's downgraded the debt of BNP Paribas (BNPP.PA), Societe Generale (SOGN.PA), and Credit Agricole (CAGR.PA) on Friday, citing deter...

The Folie De Grandeur of Rogue Traders

Robert Lenzner | Posted 02.04.2012 | Books
Robert Lenzner

Listen up! I have just finished reading the brilliant, fast-paced How To Be A Rogue Trader in global finance by the prize-winning Associate Editor of the Financial Times, John Gapper and hereby recommend it as required reading, ASAP.

Global Stocks Jump On New Debt Crisis Pledge

Posted 12.10.2011 | Business

(Natsuko Waki) - World stocks and the euro rose on Monday while top-rated government bonds and the dollar fell after German and French leaders promise...

'Depression' Again Being Used To Describe Economic Landscape

Posted 12.05.2011 | Business

(Mike Dolan) - You know it's grim when the prevailing debate among economists and historians is whether the world economy faces the "Great" depression...

How The Euro Debt Crisis Could Affect U.S. Banks

Time | STEPHEN GANDEL | Posted 11.28.2011 | Business

Depending on how you look at it, U.S. banks could lose as much as $1 trillion dollars if the current money troubles in Europe were to lead to a full b...

Investors Fear That Major European Bank Could Fail

The New York Times | Posted 11.07.2011 | Business

Remember the collapse of Lehman Brothers? Europeans certainly do. As Europe struggles to contain its government debt crisis, the greatest fear is t...

European Banks May Need To Raise $72B To Meet New Capital Requirements

Posted 08.27.2011 | Business

LONDON/FRANKFURT (Steve Slater and Arno Schuetze) - Europe's banks may need to raise over 50 billion euros ($71.6 Billion) after regulators slapped an...

Economy's 'Little Ray Of Hope': The Service Sector

Posted 08.03.2011 | Business

NEW YORK - The pace of growth in the services sector picked up modestly in May while gauges of new orders and employment climbed, according to an indu...

S&P Cuts Japan Credit Outlook On Quake Concerns

Posted 06.27.2011 | Business

TOKYO (Leika Kihara) - Standard and Poor's threatened to cut Japan's sovereign credit rating again, warning the huge cost of last month's devastating ...

Service Sector Continues To Grow, But At A Slower Pace

Reuters | Steven C. Johnson | Posted 06.05.2011 | Business

NEW YORK (Steven C. Johnson) - Growth in the vast U.S. services sector slowed last month and price pressures eased slightly, according to an industry ...

AIG Not Required To Pay For Fake Madoff Profits, Judge Rules

The Huffington Post | William Alden | Posted 05.25.2011 | Business

Fake Madoff profits, it turns out, are not covered by AIG insurance policies. AIG does not need to compensate two former Bernard Madoff clients who...

AIG, Goldman Sachs Bailout: 'Secret Document' Reveals Goldman's Toxic Derivatives

bloomberg.com | Richard Teitelbaum | Posted 05.25.2011 | Business

Bloomberg Markets reports in its April issue. Representative Darrell Issa, the ranking Republican on the House Committee on Oversight and Government R...

European Union Break-Up Coming Over Overvalued Currency, Says Albert Edwards Of Societe Generale

BusinessWeek | Alexis Xydias | Posted 05.25.2011 | Business

Feb. 12 (Bloomberg) -- Southern European countries are trapped in an overvalued currency and suffocated by low competitiveness, a situation that will ...

Suspicious Timing Surrounding The "De-risking" of AIG's Toxic Obligations

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

There is no way that Congress can understand the AIG bailout without carefully scrutinizing the decision making process behind these specific ratings and subsequent downgrades.

The Question Unasked Again and Again of Goldman Sachs, Lloyd Blankfein and Hank Paulson

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

What was the nature of the exchange of information between Paulson and Blankfein and/or their staffs, and what impact might it have had on Goldman's intransigence vis a vis A.I.G.? We should all be told.

The Times Story On Goldman's Role in AIG's Downfall Is More Damning When Placed In Context

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

Placed in a broader context, the front page story The New York Times is even more damning of Goldman Sachs than readers might realize. Goldman played...

AIG's Banks: Market Makers or Flippers of CDOs?

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

Did Societe Generale ever view its $1.2 billion investment in Adirondack 2005-2 as a buy-and-hold proposition? Or was the bank's original intention to offload the risk on to AIG?