Nick Leeson!

[oatman]

..........and who said he didn't benefit from it? Everyone got a big fat bonus on his "profits"

 

[wisestguy]

if they got paid beforeBarings went kaput .

 

[ivorm]

Sorry, chaps I forgot he got sent back to Singapore. Jim Slater and his mate never got extradited to Singapore, as Mr Slater said, ' I do not stand a cat in hell's chance in Singapore'. I dare say had it been somebody like Mr Slater, Mr Saunders or Chairman of Equitable Life, they may not well have been extradited to Singapore but if they were really unlucky they may have served a token sentence in an open prison.

Well said Gullible.

Nick Leeson's extradition to SIngapore marked yet another low spot in our hopelessly corrupt system of justice.

It's who you know that counts, not what you did !!!

 

[gullible]

Wisestguy,

Sorry, I agree with your logic. Slater Walker did not know what they were getting into, Saunders was merely doing his job and not benfittinng from it at all, and Board of Equitable Life did not know what they were getting into, they were merely doing their job, they can not help it if the company goes pear shaped - ah I get it that's why a huge pay off was agreed.

I still can't get it why Equitable Life was trying to sue the auditors. Is it beacuse the dire situation was known by the board for a long time and the performanace and the balance sheet were massaged?

Serves me right for thinking that it's a fair world with equal justice for all.

 

[wisestguy]

gull,

I was talking about NL refering to general posts about him .

 

[gullible]

Wisestguy,

My apologise.

best regards and good luck in your trading

 

[gullible]

ivorm,

agreed. We may have well seen another one today - former Prime MInster's son get scot free for him what must a petty cash fine.

 

[newstart]

Hi sak07,
You are right of course but I learned two things from the movie how NOT to trade and to accept responsibility for my own screw ups and bad trades.

 

[oatman]

Rule no.1
Never try and trade out of an error. Just get square and have another look.

 

[wisestguy]

trouble was NL physically could not get out w/o winding up his 88888 account , which would have revealed him as the fraud he was.

effectively , if he wanted to continue trading he had to keep the 88888 open and continue to feed it margin in the hope that the market would eventually break upwards .