A modern-day Robin Hood?
Few would deny that a French rogue trader who allegedly lost his employer Societe Generale $7.2 billion acted illegally. And yet, Jerome Kerviel is fast becoming an Internet hero, having been dubbed the Robin Hood of finance.
On one of the most prominent Facebook groups called “Jerome Kerviel should be awarded the Nobel Prize in Economics,” Blake Cromwell gave tribute to Kerviel for having taken on a major bank.
“You are the man,” Cromwell wrote. “The banks have a license to steal and deserved what they got. … Those political fat cats are not as smart as they thought they were. … Nice going Jerome!”
Although some are speculating that Kerviel is merely a scapegoat in a bank cover up, if he did indeed act alone, I don’t understand why so many people are making him into a modern-day Robin Hood. It’s not like he robbed the rich to help the poor–he just lost the money entirely. So why the outpouring of support?




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back to top6 Comments to “A modern-day Robin Hood?”
Because, as they say in the world of rock, he stuck it to the man.
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Fortunately, this wouldn’t happen in America apart from a few wingnut leftists. Here is a scoundrel who cost his company over seven-billion dollars. Banks, far from having a license to steal, are the custodians of the saved funds of for the most part honest individuals, companies, and corporations.
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How did he lose the money? I haven’t figured that out.
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KyleA, He made some bad bond trades, doubled down on them on the assumption that the European sub-prime bond market would recover, and fudged the record- book on the counter-derivative trades that his bank required.
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This is totally George Bush’s fault.
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When people are angry enough (particularly when combined with minimal knowledge of the system), they can be happy at purely destructive things.
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