Wanted: A Whistleblower Statute for Bank & Securities Fraud
The case of French bank Société Générale, in which a single trader’s off-the-reservation trades cost the bank €4.9 billion ($7.2 billion), highlights a systemic control weakness in global financial markets. No system of regulation, operated from outside and above individual companies can be expected to corral determined fraudsters on a timely basis. Friday’s Wall Street […]
