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The Fine (And Risky) Line Of Leniency
by Michel Anteby
A French court is finally hearing the case of JÃ©rÃ´me Kerviel, the trader whose actions in 2008 almost led to the fall of SociÃ©tÃ© GÃ©nÃ©rale, one of Europe's best-known banks. In the weeks to come, all parties involved will likely try to blame each other for one of the largest trading losses in financial history (4.9 billion euros, more than $7 billion).