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The Return Of The Rogue, Kimberly D. Krawiec
The Return Of The Rogue, Kimberly D. Krawiec
Kimberly D. Krawiec
The rogue trader—a figure that captured public attention in the 1990s— has returned to the spotlight, largely due to two phenomena. First, market volatility stemming from problems in the U.S. mortgage market spilled over into stock, commodity, and derivative markets worldwide, causing large losses at many financial institutions and bringing to light previously hidden unauthorized positions. Second, the rogue trader has returned to prominence due to domestic and international regulatory changes that have forced banks worldwide to focus more attention on operational risk, an important component of which is rogue trading.
Although critics have raised a number of objections to …