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 G Purvis T G Purvis T G Purvis (12 April 1861 – 17 January 1933) was a British marine artist. A sea captain who turned to painting, he was a prolific painter of ship portraits and marine scenes from the early 1890s to the late 1920s. His paintings can be found in a number of public collections, notably the National Maritime Museum and the National Museum of Wales. Thomas George Purvis (professionally known as T G Purvis) was born in Chirton, Northumberland, on 12 April 1861. He was the only child of the then 46-year-old Jane Scott, daughter of a master mariner,