Thursday, January 24, 2008

Societe Generale have fraudulent trader?

Was out the whole day, so didn't manage to check the market till I'm back home at night.

STI was up another 2.2%, while HSI dropped 550 pts. Can see that quite a number of stocks went up in my watchlist. I wouldn't go to say the danger is over yet...we'll just wait and see. There are reports of a fraudulent trader under Societe Generale that is very similar to Nick leeson (the man that broke baring bank). I think that is another big blow to the market...esp to the financial industry. Seems like when times are good, there are a lot of such scandals and frauds appearing, even Singapore; the most recent being Sembcorp marine.

Dow is now at 58 pts up.

Thanks for everyone who visited my blog! My blog reached 22,000 views already! I've been blogging on a almost daily basis since I started bullythebear in around 2006, Dec. A very long time indeed. Many more years to come! :P