Rogue trading

FA poll: The extent of rogue trading

Respondents to our web poll last week reckon unreported rogue trading is common, but management look the other way if it's profitable.
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Rogue elephant? (AFP) </div>
<div style="text-align:left;"> Rogue elephant? (AFP) </div>

In a short story called Shooting an Elephant’’ 1936 about his days as a British colonial administrator in Burma, George Orwell meditates on a dilemma that represented the mutual hostility felt between ruler and ruled. In order to save face in front of an indigenous crowd, the narrator presumably Orwell himself feels compelled to shoot a “rogue elephant, which had ceased to belong to its herd”, and was ravaging the bazaar”.

An alleged rogue trader has again appeared, this time at UBS, and has apparently racked up losses of $2.3 billion. Kweku Adoboli seems to have joined a club of notorious traders that broke from the herd, rampaged...

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