I’ve always been a big fan of France, and of banks losing billions of dollars (yes I know it’s the customer and the taxpayer who pay in the end but it’s still fun to watch). So todays news that Jerome Kerviel, the trader implicated in the recent $8Billion loss at Societe General is suing for wrongful dismissal put a huge smile on my face.

Apparently SG has violated a few aspects of French labour law in dismissing Kerviel. Not only have they not had a meeting with him to explain why he was fired, they also have not proven he did what he was alleged to have done. On top of that get this- According to the Times UK

“Mr Kerviel’s massive gambles on markets were actually in the black when his bosses stepped in. The losses only occurred when SocGen sought to unwind his gambles.”

So not only was this guy playing fun games with billions, he was making his masters money until they tried to figure it out. Once again we learn to leave the math guys alone as long as the black box keeps spitting out money.