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I mean I dunno, every year in Investment Banking/Trading there is a new scandal about someone hiding billions of exposure by going around the risk systems. Aft
by mamonster 2y ago
I mean I dunno, every year in Investment Banking/Trading there is a new scandal about someone hiding billions of exposure by going around the risk systems.
After Kerviel(the SocGen trader who lost 5 billion in 08) most IBs basically "shadowbanned" the Middle Office(risk/compliance/reconciliation) to trading desk lateral, precisely because a middle office guy can hide a lot of risk quite easily.