Normally there are many barriers that prevent a 'rogue trader' from getting away from unauthorized transactions. He was running the back office in addition to the trading floor which is unheard of. Further, there is no mention of a risk department which keeps a hawks eye on traders. If all else fails many times traders are required to take consecutive vacation days in order flush out 'drawer' trades. In Barrings case, they did everything wrong....and they paid the price.
9.00 A presure junky, that cannot admit failure- in a bank that does not know what it's doing- How could that not have ended badly?
His motivation I really think, was to be sucsessful. At any cost, he likes the pressure, expects to get caught- doesnt, so blames them not himself- more presure, and it just goes mad.
The only part I have trouble with, is after he clears the debts- he changes, why?
Because he does not want to get caught out, again as he had- new stratigy to not fail, that failed!
And actually it's the decision by him- to change his 'no failure stratigy' that causes it: his first stratgy allowed him to cover his losses.
The change he made, made that impossible; and probably took up more of his time stopping him from doing market research to bet better, which just made it worse!
No Guru- that's the problem. Yet the market is always changing- not easy to find one is it.
Normally there are many barriers that prevent a 'rogue trader' from getting away from unauthorized transactions. He was running the back office in addition to the trading floor which is unheard of. Further, there is no mention of a risk department which keeps a hawks eye on traders. If all else fails many times traders are required to take consecutive vacation days in order flush out 'drawer' trades. In Barrings case, they did everything wrong....and they paid the price.
stwilegar 5 months ago
Comment removed
stwilegar 5 months ago
Comment removed
TheAccidentalMonk 6 months ago
"All I wanted was my little house, a car, 2.4 children, and to be happy. What everyone wants really..."
I lol'ed irl.
flashysimon 9 months ago
that Singapore chick really liked Nick
jradetzky 11 months ago
You're not a big fish. You're not even a fish.
barkbat 1 year ago
9.00 A presure junky, that cannot admit failure- in a bank that does not know what it's doing- How could that not have ended badly?
His motivation I really think, was to be sucsessful. At any cost, he likes the pressure, expects to get caught- doesnt, so blames them not himself- more presure, and it just goes mad.
The only part I have trouble with, is after he clears the debts- he changes, why?
Because he does not want to get caught out, again as he had- new stratigy to not fail, that failed!
099749 1 year ago
@099749 cont...
Funny isnt it. Wrong guy in the right bank- oppps.
In a better bank, he might actually have been sucessful- it seems he had no real training, and was just let loose, with no oversight at all!
099749 1 year ago
@099749 cont...
And actually it's the decision by him- to change his 'no failure stratigy' that causes it: his first stratgy allowed him to cover his losses.
The change he made, made that impossible; and probably took up more of his time stopping him from doing market research to bet better, which just made it worse!
No Guru- that's the problem. Yet the market is always changing- not easy to find one is it.
Esspecially in a Bank that has no clue.
I blame Thather- she allowed it to happen!
099749 1 year ago
@099749 cont..
Although, the market is controlled.
By the big fish, and they must have seen what nick was doing. Which maybe explains why every bet he made went bad!
Ergo: some used him, to destroy the bank. and I doubt Nick was aware, of that thou.
099749 1 year ago