Jerome Kerviel

This is why we have problems: FT.com / Companies / Banks - Kerviel team ‘frequently’ broke limits: "Eric Cordelle, Mr Kerviel’s immediate supervisor at the French bank, denied knowledge of the €50bn of unhedged positions built up by the 33-year-old in January 2008, saying he was overworked and had neither the resources nor the tools to monitor individual traders’ positions."