Société Générale loss, that same day two credit rating agencies reduced the bank's long term debt ratings: from AA to AA- by Fitch; and from Aa1/B to Aa2/B- by Moody's (B and B- indicate the bank's financial strength ratings). Executives said the trader acted alone and that he may not have benefited directly from the fraudulent deals. The bank announced it will be immediately seeking 5.5 billion euros in financing. On the eve and afternoon of January 25, 2008, Police raided the Paris headquarters of Société Générale and Kerviel's apartment in the western suburb of Neuilly, to seize his computer files. French
Sébastien Rale Sébastien Rale Sébastien Rale (also Racle, Râle, Rasle, Rasles and Sebastian Rale (January 20, 1657 – August 23, 1724)) was a Jesuit missionary and lexicographer who worked among the eastern Abenaki people. He was stationed on the border of Acadia and New England, and encouraged Indian raids upon the Colonial settlements in Maine. He fought throughout King William's War and Queen Anne's War, and was eventually killed by the Colonists during Father Rale's War. Rale was born in Pontarlier, France and studied in Dijon. In 1675, he joined the Society of Jesus at Dole and taught Greek and rhetoric at