This man lost his bank 7.2 million dollars (that’s a lot of money!)

We previously wrote about the “rogue trader” who lost over 7.2 million dollars working at the French bank Societe Generale. Think about that sum of money. It was eventually revealed to be Jerome Kerviel, who fabricated documents and illegally accessed computers in order to put a huge amount of money at risk. Well good ol’ Jerome Kerviel is now suing the Societe Generale in France for wrongful termination. Apparently losing 7.2 million dollars for your company doesn’t warrant a firing in France.

Only in France could a man who lost his company 7.2 million dollars justifiably sue for wrongful termination. Kerviel’s lawyers are claiming that the money he risked only fell when his bosses stepped in, while Societe Generale tried to undo all the gambles. Lastly, French labor law (famously restricting workweeks to less than 40 hours and requiring long vacations) also stipulates that without a face-to-face meeting outlining the case for termination it can’t be valid.

Societe Generale didn’t meet face-to-face with Kerviel because he was in prison, as he’s been charged with breach of trust, fabricating documents, and illegally accessing computers. According to Kerviel, even though in the eyes of the law he apparently did something wrong, his employer didn’t prove that he did anything wrong. We ask this one question: is losing 7.2 MILLION dollars not something wrong? Are we missing something here? I’m sure some Burger King or Taco Bell employees have been fired for having tills that were off by far less, say a few hundred dollars.

We hope he doesn’t win. This lawsuit is ridiculous.

Of course, being France, Jerome Kerviel became somewhat of a hero to some. He’s be equated to Robin Hood or Che Guevara, just because he cost a bank several million dollars. But he wasn’t giving money back to the poor, he was just looking for a bigger bonus.

A graphic we used for the original story. Unfortunately for Societe Generale, the 7.2 million they lost is not fake… at all.

[Source]

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