Wall Street's most embarrassing emails
7. 'The power of Kerviel'
Set-up
On Dec. 13, 2007, Société Générale trader Jérôme Kerviel sent an email to another bank employee. Apparently, Kerviel was concerned that his trades — particularly his high-risk positions — would draw the ire of the bank and regulators. He was right: Kerviel, who ultimately lost $7.6B of Société Générale's money, was later convicted of breach of trust and forgery. Kerviel is appealing the decision, claiming higher ups at the bank were aware of his trades. This email may not help his case.
Punch
Moussa Bakir
'You are absolutely going to have to take your holidays.'
Jérôme Kerviel
'Behind bars.'
Bakir
'Rubbish. What have you done wrong? You haven’t raped anyone. You have done nothing illegal according to the law'
Kerviel
'I have made loads of cash, that’s all.'
Bakir
'I would love to be put behind bars everyday when I make money legally.'
Kerviel
'Shut up.'
Bakir
'Bitch.'
Kerviel
'This is going to show the power of Kerviel.'
Bakir
'Or the recklessness... Quiet and simple boy. Keeps a low profile. Who makes loads of cash and is not given the credit he is due.'
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