French Bank loss

[Slack Alice]

So a trader at the French Bank has lost his company some $7.14 billion! When Nick Leeson lost his (now) trivial amount, I wondered this: As this bank has lost a huge amount, where has it gone? Is there a super-size book-maker around who takes on this sort of risk, or is it an inter-bank arrangement?. Whoever it is, then surely they are this much better off.

[jno]

probably into thousands of different pockets - the bank will have tried to take out contracts to lay off the losses they incurred, but as they were the ones desperately needing to do so they'll have had to make them cheap; so other banks or other financial institutions that took them up will have got bargains.

[brionon]

In the pockets of the British Government ,of course. And they are responsible for Global warming and the disapperance of the Natterjack toad. Right ?

[buildersmate]

Tens of thousands of individuals and trading organisations all gained a little. Some more than others - those who bet the opposite way to that of this individual and his employer.

[kwicky]

Probably just paper transactions. If you hold a number of shares they may increase in value but is worth no more to you unless you cash them in. The majority of us who bought houses may feel richer when the prices go through the roof but the bricks and mortar are the same as when you bought it.