Trader Blamed for 'Biggest Bank Fraud in History'The French bank Societe Generale says the fraud cost them more than $7 billion. A single, young trader was blamed, the CEO resigned and managers were fired.
The French bank Societe Generale, the world's seventh largest bank, says it's the victim of one of the biggest frauds in history. A single young trader allegedly made $7 billion "disappear into thin air" through sophisticated techniques.
The CEO has offered to resign and hundreds of shareholders are suing the bank. Madeleine Brand talks to NPR's Eleanor Beardsley about the unlikely heist