I demand justice for all traders, says banker sacked by SocGen for risky bets [Yahoo! Finance]
JP Morgan Chase & Co. (JPM)
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Source: Yahoo! Finance
Kavish Kataria, who worked on French bank Société Générale's derivatives desk, was sacked last week after the lender uncovered trades he had placed on the Indian stock market that had gone under the radar. In a LinkedIn post entitled “my side of the story”, Mr Kataria said there was no “trader justice” and many were made scapegoats by large banks. He said: “It is very easy for an organisation to put the entire blame on traders and make them the scapegoat in the entire incident. “Instead of taking the responsibility of the lapse in their risk system and not identifying the trades at the right time they fired me and terminated my contract. “Trading Industry [sic] is so big but there are no rules or regulations which fight for trader justice . Every time something goes wrong in the organisation traders are only held responsible for wrong doings without listening to their side of the story.” A SocGen spokesman said: “Our strict control framework has allowed us to identify a one
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