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
The Coffee Trader on the sort of character I wanted to see in that situation." The Coffee Trader The Coffee Trader is a historical novel by David Liss, set in 17th-century Amsterdam. The story revolves around the activities of commodity trader Miguel Lienzo, who is a Jewish refugee from the Portuguese Inquisition. Recovering from near financial ruin, he embarks on a coffee trading scheme with a Dutch woman, kept secret because it is forbidden by his community council. Miguel navigates the social structures of the Amsterdam business world, the politics of the council, and the plots of competitors bringing this new import to