SocGen Boss Says 75 Missed Trading Alerts 'Not Unusual'

FT Alphaville reports that SocGen CEO Daniel Bouton has said that none of the 75 trading alerts flagged up to bank officials about rogue trader Jerome Kerviel were, in themselves, 'unusual' (Ed's note - perhaps the fact that there were 75 of 'em was, Daniel).

It was revealed this week that, between June 2006 and January 2008, 75 red flags were raised about Kerviel's activities by various product controllers, compliance professionals, risk officers and outside parties.

In the meantime, the search goes on for the mysterious 'Mat', said to be a London-based broker who is thought to have had some contact with Kerviel. Investigators remain undecided about whether he actually exists, although he is said to have been referred to by Kerviel in e-mails. Bouton, however, says that he doesn't expect many more surprises in connection with this saga. He said this we that 'we are in a zone of uncertainty that is minimal'.

Finally, The Wall Street Journal reports that a spoof analyst is having fun by gatecrashing the earnings calls of some of America's largest corporations. The guy is simply talking analyst speak (he said to Molson Coors Brewing CEO Leo Kiely, 'congratulations on the solid numbers - you always seem to come through in challenging times'). Pepsi is said to have also be caught out. The analyst claims he is Joe Herrick of Gutterman Research. Real analysts wonder what he is getting from his escapades. Our thanks to Wall Street Folly for pointing out this item.