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LONDON (MarketWatch) -- Mutually owned French bank Caisse d'Epargne said Friday it's suffered from a "major market incident" in its derivatives business resulting in a loss of around 600 million euros ($809 million).
Consulting my French dictionary, "major market incident" translates as "monumental fu*k up".
The French banks, with their classically trained mathematicians, always believed their models and loved to sell vol and skew...
Consulting my French dictionary, "major market incident" translates as "monumental fu*k up".
The French banks, with their classically trained mathematicians, always believed their models and loved to sell vol and skew...
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