Jrme Kerviel has lost billions of euros and won billions of fans.
When analyzing and reporting on what happened with Kerviel at Socit Gnrale, there are many angles to take. The put-you-to-sleep technology solution information about where banks can go wrong in IT, risk management, etcetera, is certainly essential. But for the most part, no expert touting a product or otherwise seems to ignore that a bug in the system is not the only thing that causes a bank to lose 4.9 billion. As I discussed in my last entry, the aggressive cultural atmosphere of banks cannot be ignored. Of course, many people in the financial industry dont want to outright say, Banks are just plain greedy, and so this is what happens to them.”
But many others all over the globe are saying just that.
In fact, Kerviel, or shall we call him Robin Hood, has ignited a sort of patriotic fervor in France, and even became the center of a bit of an f off capitalism worldwide message. Ironically, playful Internet-sold T-shirts marketing his heroism are selling worldwide, and Facebook groups dedicated to the rogue trader saturate the popular social networking site. Or perhaps visit www.jeromekerviel.com for more fan dedication.
The U.S. news outlet ABC reports that one Facebook group suggests a donation campaign to rescue the trader by recruiting five billion members who then each donate 1. (So far, this isnt proving successful, but if it does work, we ought to all start a campaign to pay off our debts!)
Whether or not Kerviel really has a girlfriend is unknown, but plenty of people are wearing a T-shirt claiming to be her. This clever moneymaker sold at www.MissKerviel.com has been featured in news outlets all over the world. The Jrme Kerviels girlfriend tee has branched out to designs including Jrme Kerviel is a hero and When I grow up I want to be just like Jrme Kerviel. You can even find undergarments with this message, if you so desire.
But the real message is clear: Call him a thief or call him a superstar, Jrme Kerviel has made quite a stir.
Ellie Behling, reporter
ebehling@www.globalcustodian.com