2008 Société Générale trading loss the bank's total market capitalization. Bank officials claim that Kerviel tried to conceal the activity by creating losing trades intentionally so as to offset his early gains. According to the BBC, Kerviel generated €1.4 billion in hidden profits by the end of 2007. His employers say they uncovered unauthorized trading traced to Kerviel on January 19, 2008. The bank then closed out these positions over three days of trading beginning January 21, 2008, a period in which the market was experiencing a large drop in equity indices, and losses attributed are estimated at €4.9 billion. The bank claimed Kerviel "had
Sébastien Rale Sébastien Rale Sébastien Rale (also Racle, Râle, Rasle, Rasles and Sebastian Rale (January 20, 1657 – August 23, 1724)) was a Jesuit missionary and lexicographer who worked among the eastern Abenaki people. He was stationed on the border of Acadia and New England, and encouraged Indian raids upon the Colonial settlements in Maine. He fought throughout King William's War and Queen Anne's War, and was eventually killed by the Colonists during Father Rale's War. Rale was born in Pontarlier, France and studied in Dijon. In 1675, he joined the Society of Jesus at Dole and taught Greek and rhetoric at