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
The Coffee Trader on the sort of character I wanted to see in that situation." The Coffee Trader The Coffee Trader is a historical novel by David Liss, set in 17th-century Amsterdam. The story revolves around the activities of commodity trader Miguel Lienzo, who is a Jewish refugee from the Portuguese Inquisition. Recovering from near financial ruin, he embarks on a coffee trading scheme with a Dutch woman, kept secret because it is forbidden by his community council. Miguel navigates the social structures of the Amsterdam business world, the politics of the council, and the plots of competitors bringing this new import to