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Overheard in the corridor at the Conference Centre at the World Economic Forum: “We should be making this rogue trader at Societe Generale a hero, not a villain. Sarkozy asked the French people to take more risks like Americans, and this guy did just that.”
Another comment in the hallway: “Hey, this French trader finally got the Fed to cut interest rates. His bank had to sell stock to get some liquidity after he lost $7 billion and that led to a selloff around the world and that led to the Fed finally cutting rates by 75 basis points. He’s a hero.”
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