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
William Eckhardt (trader) of rules (i.e. can trading be taught?). The experience was overwhelmingly successful with novice traders ending up making $100 million. Eckhardt, who believed trading could not be taught, had effectively lost his bet with Dennis. William Eckhardt (trader) William Eckhardt is a commodities and futures trader and fund manager. He began trading in 1974 after four years of doctoral research at the University of Chicago in mathematical logic. Eckhardt never finished his PhD in mathematics, claiming that he left graduate school for the trading pits after an unexpected change of thesis advisors. Despite leaving academia prematurely, Eckhardt has published several