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
T,O,U,C,H,I,N,G effects to elicit emotional and psychological responses in viewers. T,O,U,C,H,I,N,G T,O,U,C,H,I,N,G is a 12-minute short film directed by Paul Sharits in 1968. It uses many of the strategies characteristic of the structural film movement, including a static frame, flicker effects, flash frames and continual audio and visual repetition. The audio track consists exclusively of the filmmaker uttering the word "destroy" over and over until the word begins to lose its meaning and creates the impression of different combinations of words being spoken. Unlike many clearly algorithmically-driven films of the structural film movement, "T,O,U,C,H,I,N,G" does not simply follow a sequence of