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Credit Agricole warns of rogue trade at Calyon

Unwinding credit index position to cost almost $350 million, bank says

By Alistair Barr, MarketWatch

Last Update: 2:05 PM ET Sep 18, 2007Print E-mail Subscribe to RSS Disable Live Quotes

SAN FRANCISCO (MarketWatch) -- French banking giant Credit Agricole SA said on Tuesday that it recently discovered an unusually large, unauthorized trade at the in-house trading desk of its Calyon investment banking subsidiary in New York.

Unwinding the trade will cost roughly 250 million euros, or $347 million, the company said in a statement on its Web site. That hit will be recorded in third-quarter results.

 

http://www.marketwatch.com/news/story/cred...D&dist=hplatest

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Unthinkable indeed....

 

post-1110-1190137794.jpg

 

I myself believe...that in the US housing prices will fall....but in Spain...it is unthinkable that they will fall and what not....... :lol:

I watch 0 TV anymore, but a friend told me she saw this girl on some morning TV show, and actually sounded pretty bright. They made her watch this clip in front of the audience, and apparently laughed really hard when it was over, saying someting like "I don't even know who that person IS".

 

I'm no apologist for the beauty pageant circuit, but a 17 year old growing up in that atmosphere, being able to laugh at herself, counts for something.

608490[/snapback]

 

I saw the clip on the net...I think one of the guys here posted the link a short while back....

 

Some of what I post is tongue in cheek...surprise....But I can only imagine how much pressure someone of that age must have felt on stage and on TV.... :o

 

I don't think she is rocket scientist material...but I think she just "blanked" on TV at that moment...

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Unthinkable indeed....

 

post-1110-1190137794.jpg

 

I myself believe...that in the US housing prices will fall....but in Spain...it is unthinkable that they will fall and what not....... :lol:

I watch 0 TV anymore, but a friend told me she saw this girl on some morning TV show, and actually sounded pretty bright. They made her watch this clip in front of the audience, and apparently laughed really hard when it was over, saying someting like "I don't even know who that person IS".

 

I'm no apologist for the beauty pageant circuit, but a 17 year old growing up in that atmosphere, being able to laugh at herself, counts for something.

608490[/snapback]

 

I saw the clip on the net...I think one of the guys here posted the link a short while back....

 

Some of what I post is tongue in cheek...surprise....But I can only imagine how much pressure someone of that age must have felt on stage and on TV.... :o

 

I don't think she is rocket scientist material...but I think she just "blanked" on TV at that moment...

608502[/snapback]

Erin Burnett is Crapvision's homage to the teen beauty from South Carolina.

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