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« Consumer loans - not looking good | Main | Sailing close to the wind at UBS »

It's only when the tide goes out...

...that you discover who's been sweeping things under the carpet. (I will improve on this metaphor when time allows.)
Merrill Lynch has suspended a prop equity derivatives trader in London for being too optimistic with his marks...
Also, the latest report from SG on l'affaire Kerviel - looks as though there may have been an accomplice after all (but not this one). Original document here in three parts.

Posted by Alexander Campbell on May 27, 2008 11:56 AM |

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