2008 Société Générale trading loss 2008 Société Générale trading loss In January 2008, the bank Société Générale lost approximately €4.9 billion closing out positions over three days of trading beginning January 21, 2008, a period in which the market was experiencing a large drop in equity indices. The bank states these positions were fraudulent transactions created by Jérôme Kerviel, a trader with the company. The police stated they lacked evidence to charge him with fraud and charged him with breach of trust and illegally accessing computers. Kerviel states his actions were known to his superiors and that the losses were caused by panic selling by
Sébastien Rale Colonists immediately stopped selling gunpowder, ammunition, and food to the Abenaki. Then 300 soldiers under the command of Colonel Thomas Westbrook surrounded Norridgewock to capture Rale in January 1722, while most of the tribe were away hunting, but he was forewarned and escaped into the forest. His strongbox was found among the possessions that he left behind, however, with a hidden compartment containing letters implicating him as an agent of the French government and promising Indians enough ammunition to drive the Colonists from their settlements. Also, inside was his three-volume Abenaki-French dictionary, which was presented to the library at Harvard