{"id":24700,"date":"2011-09-16T07:51:49","date_gmt":"2011-09-16T11:51:49","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=24700"},"modified":"2011-09-16T07:51:49","modified_gmt":"2011-09-16T11:51:49","slug":"banks-under-new-pressure-as-rogue-trader-loses-2bn","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2011\/banks-under-new-pressure-as-rogue-trader-loses-2bn.html","title":{"rendered":"Banks under new pressure as &#8216;rogue trader&#8217; loses $2bn"},"content":{"rendered":"<p>Guardian &#8211; Staff were said to be stunned as Adoboli and his colleagues were regarded as &#8220;stars&#8221; by their colleagues and top management.ETFs are complex financial instruments that comprise a basket of investments intended to mimic a market&#8217;s movements. They have become an area into which firms have expanded since the subprime mortgage crisis. Traders on so-called delta one desks try to make huge profits on tiny differences between prices.<\/p>\n<p>The Serious Fraud Office may also become involved after it said it was &#8220;seeking discussions&#8221; with the bank, the City of London police and the FSA about how to proceed if fraud needed to be investigated. The SFO had already issued a warning about the &#8220;inherent dangers&#8221; of ETFs because of their complexity.<\/p>\n<p><a href=\"http:\/\/www.guardian.co.uk\/business\/2011\/sep\/15\/banks-rogue-trader-kweku-adoboli-2bn?CMP=EMCGT_160911&amp;\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Guardian &#8211; Staff were said to be stunned as Adoboli and his colleagues were regarded as &#8220;stars&#8221; by their colleagues and top management.ETFs are complex financial instruments that comprise a basket of investments intended to mimic a market&#8217;s movements. They [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-24700","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/24700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=24700"}],"version-history":[{"count":2,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/24700\/revisions"}],"predecessor-version":[{"id":24702,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/24700\/revisions\/24702"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=24700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=24700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=24700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}