So this trader hid at least USD 2bn of losses and worked for the London equities division of the bank.
Funny that just the other day, the CEO of the bank, Oswald Grübel was saying they'd increased efficency since 2008/09. Who'd have thought he meant in incuring trading loses.
Got to love this analysts comment: "The pressure to finally downsize this rotten investment banking is rising!"
Not even analysts like the casino arms of these global banks... that says a lot!
Commentator: I wonder if the USD 2bn is including his bonus? Might be 2.1bn or 2.2bn including it!
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