Monday, January 28, 2008

Jerome Kerviel’s Facebook Fair-Weather Friends

And just when you thought your Facebook friends were your friends for life, now we learn that Jerome Kerviel’s Facebook’s friends were canceling their existence on Jerome’s Facebook pages. Paul Kedrosky (, who manages a blog called “Infectious Greed” reports that Kerviel’s facebook friends dwindled from eight to one on the day that news of Jerome’s activities hit the media. Gee, maybe I’ll sign up on there. Though Kerviel supposedly didn’t make a dime from his trades for himself, he’s likely to get rich from book and film contracts when he gets out of jail. Soc. Gen. is pressing criminal charges against him. Enterprising attorneys in the U.S. might be wise to press a class action lawsuit against Soc. Gen. and the Bank of France to recoup investor losses here.

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