2008 Société Générale trading loss 2008 Société Générale trading loss In January 2008, the bank Société Générale lost approximately €4.9 billion closing out positions over three days of trading beginning January 21, 2008, a period in which the market was experiencing a large drop in equity indices. The bank states these positions were fraudulent transactions created by Jérôme Kerviel, a trader with the company. The police stated they lacked evidence to charge him with fraud and charged him with breach of trust and illegally accessing computers. Kerviel states his actions were known to his superiors and that the losses were caused by panic selling by
Modern Trader Modern Trader Modern Trader is a U.S.-based monthly print investment magazine. The publication was established in 1972 under the name "Commodities". The name was changed to "Futures" in September 1983 and "Modern Trader" in 2015. The magazine is a standard source in futures and option trading, and its SourceBook site is a standard reference to US brokerage and related services. The Commodity channel index was first published in "Commodities", before it was renamed to "Futures". The magazine was founded in 1972 as "Commodities", published by Leon Rose and Mort Baratz. It was bought in 1976 by Daniel Oster for Merrill.