quote:

Rogue trader to cost SocGen $7bn The logo of Societe Generale is seen a Paris street Despite the loss, the bank expect to report a net profit, made in 2007 French bank Societe Generale says it has uncovered a fraud by a Paris-based trader which resulted in a loss of 4.9bn euros ($7.1bn; £3.7bn). It also announced new write-downs of 2.05bn euros related to the sub-prime mortgage crisis in the US. But it said it would still make a profit of 600m to 800m euros for 2007, despite the blow to its balance sheet. Trading in the bank's shares, which have fallen by nearly 50% in the past six months, has been suspended. The bank, one of France's largest, will need to seek 5.5bn euros in new capital to offset the losses.

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If you can read this, I'm seriously fucking bored.