Someone needs to answer some questions. Why didn't the bank have the police present when questioning this employee? How did this employee manage to avoid the police and hide for several days?
I'm thinking the bank tipped him off and gave him time to get his story together.
As the information slowly leaks out on this 'inside the bank' fraud, it seems less and less likely that anyone obeys the Great and Powerful Market, god of all things profitable.
I don't think the bank should have been saved. The government should have put it down like an old dog.
Now the 'police' and the 'courts' are after some sacrificial blood. If one brand new 'junior' trader generated over 1.4 billion euro in profit in one calender year, then telling me that no one in management knew about the insider fraud is bullshit.
His boss knew. And, was counting his bonus along with everyone in the department all the way up the chain to CEO and the Board.
From the limited information in the news stories, the fraud would have continued as long as the bank was making money and the market going up. The market should have kept going up with one bank trader printing money. That's his crime, isn't it? Using a computer to print money. Money which he then invested for the bank. A bank that made 1.4 billion euros from the counterfeit money?
"Live by the market, Die by the market."
But, those risk taking entrepreneurs keep the Market Temple closed to the government when business is good. When business is bad, even on a Sunday afternoon, the risk taking and risk rewarded capitalist runs to his friendly local politician to beg forgiveness.
"Thou shall have no false gods."
The government should have let the market sort this out. The market created the problem.
But, then, I've never understood worshiping money or the people with all the money.
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