83,489
edits
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
(9 intermediate revisions by the same user not shown) | |||
Line 1: | Line 1: | ||
{{tabletopflex|100}} | {{tabletopflex|100}} | ||
|+ Roll of Honour, financial disasters edition | |+ Roll of Honour, financial disasters edition | ||
{{aligntop}} | |||
! Scandal !! Date !! Where!! Loss !! Reason !! Firings !! Jail-Time? | ! Scandal !! Date !! Where!! Loss !! Reason !! Firings !! Jail-Time? | ||
|- | {{aligntop}} | ||
|{{disaster roll - Credit Suisse}} | |||
|- | {{aligntop}} | ||
| | |{{disaster roll - SVB memeplex}} | ||
|- | {{aligntop}} | ||
| | |{{disaster roll - Frank}} | ||
{{aligntop}} | |||
|{{disaster roll - FTX}} | |||
{{aligntop}} | |||
|{{disaster roll - BarclaysMTN}} | |||
{{aligntop}} | |||
|LME Nickel [[short squeeze]] || 2022|| London || [https://internationalbanker.com/brokerage/the-nickel-short-squeeze-what-happened/ “Billions”] || LME || None reported ... yet || No | |LME Nickel [[short squeeze]] || 2022|| London || [https://internationalbanker.com/brokerage/the-nickel-short-squeeze-what-happened/ “Billions”] || LME || None reported ... yet || No | ||
{{aligntop}} | |||
|[[Evergrande]] || 2021|| China || [https://www.nytimes.com/2021/09/19/business/china-evergrande-debt-protests.html $300bn] || || Who knows? || No | |[[Evergrande]] || 2021|| China || [https://www.nytimes.com/2021/09/19/business/china-evergrande-debt-protests.html $300bn] || || Who knows? || No | ||
{{aligntop}} | |||
|[[Archegos]] || 2021|| US || [https://www.theguardian.com/business/2021/apr/27/nomura-and-ubs-latest-banks-to-reveal-impact-of-archegos-collapse $10bn+] || [[When variation margin attacks|UMR]]<br>Internal operations || 100+ across brokers plus several senior executives and one CEO || Eyes peeled, Mr Huang | |[[Archegos]] || 2021|| US || [https://www.theguardian.com/business/2021/apr/27/nomura-and-ubs-latest-banks-to-reveal-impact-of-archegos-collapse $10bn+] || [[When variation margin attacks|UMR]]<br>Internal operations || 100+ across brokers plus several senior executives and one CEO || Eyes peeled, Mr Huang | ||
{{aligntop}} | |||
|[[Greensill]] || 2021|| UK || [https://www.nytimes.com/2021/03/28/business/greensill-capital-collapse.html $4.6bn] || || | |[[Greensill]] || 2021|| UK || [https://www.nytimes.com/2021/03/28/business/greensill-capital-collapse.html $4.6bn] || || | ||
{{aligntop}} | |||
|[[Melvin Capital Management LP]] || 2021 || US || [https://www.thestreet.com/memestocks/gme/gamestop-stock-melvin-capital-defeated-by-the-apes $7bn] || Hubris detector failed || Everyone! The fund shut down shortlay after || Talk of regulators, outrageously, going after the [[outsider trader]]s, but nothing as yet. | |[[Melvin Capital Management LP]] || 2021 || US || [https://www.thestreet.com/memestocks/gme/gamestop-stock-melvin-capital-defeated-by-the-apes $7bn] || Hubris detector failed || Everyone! The fund shut down shortlay after || Talk of regulators, outrageously, going after the [[outsider trader]]s, but nothing as yet. | ||
{{aligntop}} | |||
|[[Citigroup v Brigade]] || 2021|| US || [https://www.ft.com/content/de433d55-5cea-4929-9954-c08e5b98f004 $500m] || Outsourcing, Operations, IT || Not reported but wouldn’t fancy being head of the team in Bangalore || No | |[[Citigroup v Brigade]] || 2021|| US || [https://www.ft.com/content/de433d55-5cea-4929-9954-c08e5b98f004 $500m] || Outsourcing, Operations, IT || Not reported but wouldn’t fancy being head of the team in Bangalore || No | ||
{{aligntop}} | |||
|Nikola || 2020|| US || [https://www.cnbc.com/2021/07/29/us-prosecutors-charge-trevor-milton-founder-of-electric-carmaker-nikola-with-three-counts-of-fraud.html About 80% share drop] || CEO misrep || Must have been plenty || CEO indicted on charges of securities fraud | |Nikola || 2020|| US || [https://www.cnbc.com/2021/07/29/us-prosecutors-charge-trevor-milton-founder-of-electric-carmaker-nikola-with-three-counts-of-fraud.html About 80% share drop] || CEO misrep || Must have been plenty || CEO indicted on charges of securities fraud | ||
{{aligntop}} | |||
|[[WireCard|Wirecard]] || 2020|| Germany || [https://www.reuters.com/article/us-wirecard-accounts-idUSKBN23W176 $4bn] || CEO misrep || All of them || Three charged with fraud including CEO | |[[WireCard|Wirecard]] || 2020|| Germany || [https://www.reuters.com/article/us-wirecard-accounts-idUSKBN23W176 $4bn] || CEO misrep || All of them || Three charged with fraud including CEO | ||
{{aligntop}} | |||
|[[WeWork]] || 2019|| US || [https://therealdeal.com/2022/03/11/weworks-losses-narrow-but-are-still-huge/ $11bn over three years]|| CEO [[yogababble]] || Nothing to see here folks! Got a new venture to start up || | |[[WeWork]] || 2019|| US || [https://therealdeal.com/2022/03/11/weworks-losses-narrow-but-are-still-huge/ $11bn over three years]|| CEO [[yogababble]] || Nothing to see here folks! Got a new venture to start up || ''Jail''? Dude hasn’t even been kicked off Marc Andreesen’s Xmas Card list. | ||
{{aligntop}} | |||
|Carillion || 2018|| UK || [https://www.theguardian.com/business/2020/jan/15/carillion-collapse-two-years-on-government-has-learned-nothing#:~:text=The%20demise%20of%20Carillion%20was,sales%20of%20%C2%A35.2bn. £7bn] || Auditors || 3,000 jobs || No but litigation a-plenty | |Carillion || 2018|| UK || [https://www.theguardian.com/business/2020/jan/15/carillion-collapse-two-years-on-government-has-learned-nothing#:~:text=The%20demise%20of%20Carillion%20was,sales%20of%20%C2%A35.2bn. £7bn] || Auditors || 3,000 jobs || No but litigation a-plenty | ||
{{aligntop}} | |||
|Patisserie Valerie || 2018|| UK || || | |Patisserie Valerie || 2018|| UK || || | ||
{{aligntop}} | |||
|Abraaj || 2017|| Saudi || || | |Abraaj || 2017|| Saudi || || | ||
{{aligntop}} | |||
|Fyre festival || 2017|| US || || | |Fyre festival || 2017|| US || || | ||
|- | {{aligntop}} | ||
|{{disaster roll - tunabonds}} | |||
{{aligntop}} | |||
|{{disaster roll - 1MDB}} | |||
{{aligntop}} | |||
|[[Mossack Fonseca]] || 2016|| Panama || || | |[[Mossack Fonseca]] || 2016|| Panama || || | ||
{{aligntop}} | |||
|[[Theranos]] || 2016|| US || || | |[[Theranos]] || 2016|| US || || | ||
{{aligntop}} | |||
|Wells Fargo accounts fraud || 2016|| US || || | |Wells Fargo accounts fraud || 2016|| US || || | ||
{{aligntop}} | |||
|Volkswagen emissions || 2015|| Germany and US || || | |Volkswagen emissions || 2015|| Germany and US || || | ||
{{aligntop}} | |||
|Autonomy || 2012|| UK and US || || | |Autonomy || 2012|| UK and US || || | ||
{{aligntop}} | |||
|Olympus || 2012|| || || | |Olympus || 2012|| || || | ||
{{aligntop}} | |||
|[[LIBOR]] || 2012|| UK || || | |[[LIBOR]] || 2012|| UK || || | ||
{{aligntop}} | |||
|London Whale || 2012|| UK || || | |London Whale || 2012|| UK || || | ||
{{aligntop}} | |||
|Kweku Abodoli || 2011|| UK || || | |Kweku Abodoli || 2011|| UK || || | ||
{{aligntop}} | |||
|Jérôme Kerviel || 2008|| UK || || | |Jérôme Kerviel || 2008|| UK || || | ||
{{aligntop}} | |||
|[[Bernie Madoff]] || 2008|| US || || | |[[Bernie Madoff]] || 2008|| US || || | ||
{{aligntop}} | |||
|Amaranth || 2007|| US || || | |Amaranth || 2007|| US || || | ||
{{aligntop}} | |||
|Tyco || 2002|| US || || | |Tyco || 2002|| US || || | ||
{{aligntop}} | |||
|Parmalat || 2003|| Italy || || | |Parmalat || 2003|| Italy || || | ||
{{aligntop}} | |||
|Freddie Mac || 2003|| US || || | |Freddie Mac || 2003|| US || || | ||
{{aligntop}} | |||
|Global Crossing || 2002|| US || || | |Global Crossing || 2002|| US || || | ||
{{aligntop}} | |||
|WorldCom || 2002|| US || || | |WorldCom || 2002|| US || || | ||
{{aligntop}} | |||
|[[Enron]] || 2001|| US || || | |[[Enron]] || 2001|| US || || | ||
|- | {{aligntop}} | ||
|{{disaster roll - LTCM}} | |||
{{aligntop}} | |||
|Yasuo Hamanaka || 1996|| UK || || | |Yasuo Hamanaka || 1996|| UK || || | ||
{{aligntop}} | |||
|Savings and Loan || 1995|| US || || | |Savings and Loan || 1995|| US || || | ||
{{aligntop}} | |||
|Nick Leeson || 1992|| UK Singapore || || | |Nick Leeson || 1992|| UK Singapore || || | ||
|} | |} |