Former BNP Trader Wins $1.4 Million in Unfair-Dismissal Lawsuit

The video discusses trading losses at BNP and Morgan Stanley, highlighting a $19 million loss at BNP and a $100 million loss at Morgan Stanley. It compares the two cases, noting the cover-up attempt at Morgan Stanley. The discussion extends to industry-wide issues, including Citigroup's recent challenges. The video concludes with insights into risk management efforts and the potential for increased risk-taking by banks as regulations like the Volker Rule are unwound.

What was the outcome for the BNP trader who lost $19 million?

• He was banned from trading for life.

• He was promoted within the company.

• He was awarded $1.4 million by the court.

• He was jailed for financial misconduct.

How did the Morgan Stanley incident differ from the BNP case?

• The loss was smaller at Morgan Stanley.

• Morgan Stanley traders attempted to cover up the loss.

• Morgan Stanley had no financial loss.

• The court ruled in favor of Morgan Stanley.

What is notable about Morgan Stanley's trading history according to the transcript?

• They rarely experience large trading losses.

• They always cover up their losses.

• They have never had a trading loss.

• They frequently have outsized trading days.

What recent trend is observed in trading losses post-crisis?

• Losses have become larger than pre-crisis levels.

• All banks have stopped trading activities.

• There are no trading losses post-crisis.

• Losses are happening at a reduced scale compared to pre-crisis.

What is a potential consequence of unwinding the Volcker Rule?

• Banks may take on more risk.

• Banks will face no more losses.

• Banks will stop trading altogether.

• Banks will increase their legal fees.