How Would You Like to be THIS Guy - le Rogue Trader Jerome Kerviel

(Stocks in this article: NYSE: SPY, NYSE: DIA, Nasdaq: QQQQ, NYSE: SDS, NYSE: QID, NYSE: XLF, Nasdaq: MSFT, NYSE: CAT, NYSE: ABK, NYSE: HON, NYSE: HOG, Nasdaq: ETFC, Nasdaq: AMGN, Nasdaq: JAVA, Nasdaq: KLAC)

Missing, and rumored a possible scapegoat for Societe Generale to hide its mistakes, Jerome Kerviel's picture still doesn't show up on Google image searches. From nobody, to notorious "rogue" in a day's time. Unbelievable! Well, at least all the other newly unemployed traders and creative minds at the big Wall Street banks can say now, "at least I'm not THAT guy..."

But, all is not necessarily lost for Jerome Kerviel, if he is alive. Whether he lives the rest of his life in hiding, from the dungeons of the French Riviera, to the hell of Ibiza and Mykonos, or if he is caught, life might not be so bad.

Kerviel, if you find this article, put your faith in God and just look at Michael Milkin and your predecessor rogues. Some of them have resurrected their careers, like Nick Leeson who is now CEO of an Irish Premier Division Football Club, Galway United. Considering this guy did not profit from his trades, jail time should be somewhat limited. Sure, he might have to spend some time in the slammer, and I'll estimate 2 to 7 years, but think about that million dollar book he can author there, "Kerviel, Trumping the Rogue Trader," or "Kerviel, the Man Who Broke the Bank."

Seriously, we do not know the details of this situation, and we will not castrate this man here. In The Greek's personal experience I know that sometimes supervisors ask you to do things that are in clear violation of fiduciary responsibility, and if you do not do it like I didn't, you fall into the doghouse. There's a moral sacrifice that some people make to keep their job, while losing their soul. At 30 years of age, whether guilty or innocent, Kerviel has plenty of time to right any wrongs and to live a long life.

Societe, 2007's "Bank of the Year" according to Banker Magazine, fired a chain of Kerviel's supervisors. I believe six other people were let go, if I caught that correctly from CNBC this morning. Imagine the shareholder lawsuits Societe should face now for this negligence. The CEO offered his resignation, but the Board refused it. Uh, guys, ever heard of this thing called corporate governance that we adopted here in the states after Enron, Worldcom and others. The CEO HAS to go... You don't lose $7 billion because of poor controls and not lose your job. It still beats jail.

Don't miss our weekly market-moving preview this weekend. We see some speed bumps ahead for this nascent rally.

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