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World's Poorest Person?
jsinger

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 4211583 posted 12:09 pm on Oct 5, 2010 (gmt 0)

"SocGen's Rogue Trader Must Become A Billionaire To Pay Back Money

A Paris court orders Jerome Kerviel to pay $6.7 billion back to his former employer. It'll only take him a few thousand years.


LONDON -- Societe Generale is getting the ultimate comeuppance with rogue trader Jerome Kerviel after he lost the bank 4.9 billion euros with fraudulent trades two years ago: he has to pay it all back.

A Paris court issued the stunning verdict on Tuesday morning that Kerviel, 33, must repay the entire 4.9 billion ($6.7 billion) lost by the French bank as a result of fictitious trades that he covered up between late 2007 and early 2008, which were worth a total 50 billion euros ($69 billion). The judge also sentenced Kerviel to three years in prison."

 

enigma1

WebmasterWorld Senior Member 5+ Year Member



 
Msg#: 4211583 posted 4:19 pm on Oct 5, 2010 (gmt 0)

The judge also sentenced Kerviel to three years in prison

I wonder if Kerviel offered to pay some extra million to walk out? After all he won't be able to generate much revenue in prison.

LifeinAsia

WebmasterWorld Administrator lifeinasia us a WebmasterWorld Top Contributor of All Time 5+ Year Member



 
Msg#: 4211583 posted 4:21 pm on Oct 5, 2010 (gmt 0)

Oh, you can make some money while in prison. You just have to be creative...

Besides, I'm sure the court could figure out some way to allow him to work while he's there.

grandpa

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 4211583 posted 4:23 pm on Oct 5, 2010 (gmt 0)

You just have to be creative

ummm, that's why he's going to prison.

enigma1

WebmasterWorld Senior Member 5+ Year Member



 
Msg#: 4211583 posted 4:39 pm on Oct 5, 2010 (gmt 0)

It'll only take him a few thousand years.

It's just a bit more, based on his last salary, around 180K years minus interest.

BillyS

WebmasterWorld Senior Member billys us a WebmasterWorld Top Contributor of All Time 10+ Year Member



 
Msg#: 4211583 posted 4:44 pm on Oct 5, 2010 (gmt 0)

He needs another really big idea.

rocker

5+ Year Member



 
Msg#: 4211583 posted 5:13 pm on Oct 5, 2010 (gmt 0)

Raising $6,700,000,000 should be easy. The lastest figure shows the world's population is 6,873,000,000. All he needs to do is get $1 from each person. He will even have an extra $173,000,000 to invest with.

wlongacre



 
Msg#: 4211583 posted 6:07 pm on Oct 5, 2010 (gmt 0)

He should start an adsense campaigne on his website.

tangor

WebmasterWorld Senior Member tangor us a WebmasterWorld Top Contributor of All Time 5+ Year Member Top Contributors Of The Month



 
Msg#: 4211583 posted 1:27 am on Oct 6, 2010 (gmt 0)

What a let down. I thought OP and readers of this were actually looking for the poorest person.

That would be me.

Notice, no :) applied.

(wink wink, nudge nudge)

Status_203

5+ Year Member



 
Msg#: 4211583 posted 8:33 am on Oct 6, 2010 (gmt 0)

Raising $6,700,000,000 should be easy. The lastest figure shows the world's population is 6,873,000,000. All he needs to do is get $1 from each person. He will even have an extra $173,000,000 to invest with.


Perhaps he should just send a letter to six of his closest friends phrased to utilise the power of exponential growth!

rocker

5+ Year Member



 
Msg#: 4211583 posted 10:24 am on Oct 6, 2010 (gmt 0)

Jerome Kerviel, don't ask me for a Dollar, I decided to give mine to the second poorest person, Tangor, cause I like his jokes.

jsinger

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 4211583 posted 11:32 am on Oct 6, 2010 (gmt 0)

Forbes Magazine once did a story on the 10 poorest people in America. It took a lot of energy and IQ points to make that list. Most had been wealthy at one time. I lived near one list member, an elderly mafia lawyer who had lost a judgment to a union he had borrowed from.

Forbes put his net worth at negative $47 million. He lived in a mansion on 4 acres and drove a black Cadillac. I think he reached a compromise where the union let him and his wife live out their remaining few years in their home in exchange for cooperation in marshaling their far flung assets.

When the couple died, the car was a jalopy and their home was terribly run down.

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