Traders Have Been Tempted Before
STEVE INSKEEP, Host:
In 2002, a trader at Ireland's largest bank stole $750 million from his firm to pad his salary, though that's almost too small to count compared to some other cases. An executive in Japan's Daiwa Bank racked up $1.1 billion from unauthorized trades in 1995. And then there's the trader at the hedge fund Amaranth, whose shady deals in natural gas contracts in 2006 cost the firm $6.4 billion. The fund folded.
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