2008 Société Générale trading loss positions built up by Kerviel. This has led to speculation that stock market turbulence caused the Federal Reserve Board to cut the rate. A Federal Reserve spokesperson denied the central bank knew of Société Générale's situation when it made its decision. It is estimated that over the period the total trading in futures and the cash market for the Euro Stoxx 50 was €544 billion. This would make the unwinding of Kerviel’s position account for five per cent or less of overall activity. Société Générale's investment banking chief, Jean Pierre Mustier, acknowledged that the three days of forced selling played
Sébastien Rale that was already hostile, anticipating that the Frenchman would do his best to stoke this hostility. Queen Anne's War pitted New France against New England, fighting to control the region. Massachusetts Governor Joseph Dudley arranged a conference with tribal representatives at Casco Bay in 1703 to propose that they remain neutral. However, a party of the Norridgewock tribe joined a larger force of French and Indians commanded by Alexandre Leneuf de Beaubassin to attack Wells, Maine in the Northeast Coast Campaign. The English suspected Father Rale of inciting the tribe against them; French minister Pontchartrain wrote to Rale's Jesuit superior