Kerviel Speaks!

January 30th, 2008 at 11:41 am by System Import

…and this, according to the Wall Street Journal, is what he told investigators:

“I cannot believe that my superiors did not realize the amount I was risking. It is impossible to generate such profit with small positions. That’s what leads me to say that while I was positive [in the black], my supervisors closed their eyes on the methods I was using and the volumes I was trading. A trader can’t generate so much cash on a daily basis with standard activities.”

Indeed….

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