There are no rogue traders, there are only rogue banks
http://dervishcom.blogspot.com/2011/09/there-are-no-rogue-traders-there-are.html
In 1995, derivatives broker Nick Leeson of Barings Bank engaged in "unauthorized" speculative trading. The massive losses — 827 million pounds — led to the collapse of Barings, the oldest investment house in Britain.
In 1996, another rogue, Sumitomo Bank copper trader Yasuo Hamanaka, lost at least $1.8 billion. Some reports put the true losses at $4 billion.
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Source: http://feeds.washingtonpost.com/click.phdo?i=1033ab4c61a658cfcea41b17f603e70e
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