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Kerviel's identity was revealed on the Financial Times and Daily Telegraph websites, but was not confirmed by bank officials, who admitted on Thursday that the rogue trader appeared to have gone to ground and that they had no idea where he was. Executives said two years ago, the trader had a back-office job in the bank working on internal controls to prevent questionable and suspicious trades. He then transferred to a position trading in so-called "plain vanilla" stock futures in European markets. He earned a salary of about 100,000 euros (about...

Author: /time Magazine | Title: France's $7.2 Billion Hit | 1/24/2008 | See Source »

...Société Générale chief executive of corporate and investment banking Jean-Pierre Mustier told reporters that he was "convinced [Kerviel] acted alone." Kerviel confessed to the elaborate fraud during a six-hour grilling by bank officials on Saturday night, according to the Daily Telegraph, which posted a photograph online of a slender, dark-haired man. Despite the weekend revelations, three days lapsed before executives suspended trading of Société Générale shares. They declined to tell reporters at Thursday's press conference why the trader had not been immediately...

Author: /time Magazine | Title: France's $7.2 Billion Hit | 1/24/2008 | See Source »

...American stripper named Melodie ("She taught me a lot, and it wasn't just how to carry a tune"); and writing for publications too poor to pay him anything besides meals and flagons of cheap wine. He eventually began earning notice as a crime reporter on Sydney's Daily Telegraph, but it was only when he went to Hong Kong in 1968, to take up a job on a now defunct tabloid, that his passion for journalism became wedded to his love for a place...

Author: /time Magazine | Title: The Storyteller | 1/24/2008 | See Source »

...sailing down the slides clutching rolling suitcases. Chloe, 24, was a passenger on the British Airways flight. "I got to the door, and I realized I was holding a bamboo hat - and just thought, what am I doing rescuing a hat from a crashed plane?" she told the Coventry Telegraph...

Author: /time Magazine | Title: How to Escape Down an Airplane Slide | 1/23/2008 | See Source »

...primary force for change has been reclusive billionaire twins, Sir Frederick and Sir David Barclay, who live in a castle on a private island within Sark's territorial waters. The brothers, who own London's Ritz hotel and the Daily Telegraph newspaper, have used the European Court of Human Rights to help overturn a local inheritance law requiring property to be left only to the oldest male heir and also the "treizième tax," which dedicated one-thirteenth of the sale price of property to the Seigneur...

Author: /time Magazine | Title: A Revolution Not Televised | 1/17/2008 | See Source »

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