The collapse of Svb at a speed not seen since a rogue trader killed off the two-centuries old Barings merchant bank in the 1990s
MarketWatch 27 March 2023
U.K.-based Barings merchant bank, established in 1762, was brought to its knees by rogue trader Nick Leeson, who in 1995 ran up $1.3 billion of losses in unauthorized derivatives trades.
- Jag återvände från Singapore 1999, ansvarig för de förluster på 862 miljoner pund
som knäckte Storbritanniens äldsta investeringsbank, personligen dömd som ansvarig för 100 miljoner pund, och fick ändå inom loppet av en vecka erbjudande om fem olika kreditkort.
Nick Leeson, SvD Brännpunkt 21/9 2008
https://englundmacro.blogspot.com/2012/02/6000-how-much-original-rogue-trader.html
U.K.-based Barings merchant bank, established in 1762, was brought to its knees by rogue trader Nick Leeson, who in 1995 ran up $1.3 billion of losses in unauthorized derivatives trades.
In 1872, when Phileas Fogg, Jules Verne’s enigmatic character, wagered with his whist partners at London’s Reform Club, including an assistant governor of the Bank of England, to travel around the world in eighty days, he issued a cheque for £20,000, drawn on Baring Brothers.
That was sufficient, as his cheques were paid on sight, and he had joined the club on the recommendation of Baring Brothers, which had given him an unlimited overdraft facility.
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