2008 Société Générale trading loss the bank. Kerviel joined the middle offices in the bank Société Générale in the summer of 2000, working in its compliance department. In 2005 he was promoted to the bank's Delta One products team in Paris where he was a junior trader. Société Générale’s Delta One business includes program trading, exchange-traded funds (ETFs), swaps, index and quantitative trading. Bank officials claim that throughout 2007, Kerviel had been trading profitably in anticipation of falling market prices; however, they have accused him of exceeding his authority to engage in unauthorized trades totaling as much as €49.9 billion, a figure far higher than
Michael Marcus (trader) Clark University. At one time he was a devout follower of the Maharishi Mahesh Yogi. Michael Marcus (trader) Michael Marcus is a commodities trader who, in less than 20 years, is reputed to have turned his initial $30,000 into $80 million. Marcus began his trading career in 1972, when he bought plywood futures with his life savings of $7000. In the summer of 1972 President Richard Nixon froze prices of some commodities, but the futures contracts rallied sharply, increasing Marcus' stake from $700 into $12,000. In 1973 he turned $24,000 into $64,000. He also used Freight derivatives. Marcus learned money