Saturday, September 17, 2011

How Is This Even Possible

I really don't have any understanding of how a trader could do this.
It is thought a trader was able to circumvent UBS's risk-management systems by creating fictitious trades that made the bank's computer systems believe that the positions taken had been "hedged" to mitigate potential losses when in fact they had not been.


Or even why? Why not actually hedge the bets?