Filed under: Scandals

Here’s how great the employment system in France is: after losing a company $7.2 billion, rogue trader Jerome Kerviel has not been fired yet.

According (subscription required) to the Wall Street Journal, “Société Générale has stopped paying Mr. Kerviel and told him not to come to the office, but it hasn’t managed to formally fire him. French law stipulates that to do that, the bank must first call him in for a sit-down meeting and explain its dissatisfaction. He has the right to bring along a trade-union official, a lawyer or anyone else he’d like.”

Meanwhile, he’s developed a cult following of people who think he’s actually good. For some reason I’m not quite sure if I understand, the French Communist Party has leapt to his defense.

Continue reading Is rogue trader Jerome Kerviel a hero or a villain? Neither?

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This entry was posted on Monday, February 4th, 2008 at 1:46 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.