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Thursday, January 24, 2008

Société Générale wins a risk management award

French banking giant Société Générale said Thursday a single trader who fooled his bosses carried out a massive 4.9 billion euro (7.15 billion dollar) fraud -- one of the biggest in financial history.

And the award for derivatives house of the year goes to... Société Générale!

Risk Magazine

[Thanks to Doug Kass for pointing this one out.]

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