Did SocGen Bet Against Its Own Share Price?

Floyd Norris

Thanks to leaks to The Financial Times regarding Libya’s sovereign wealth fund, we now know that large financial institutions sold the Libyans numerous financial derivatives. I find it more interesting to learn what was sold by one French bank.

What was Société Générale, the large French bank, doing? Was it betting against its own stock? Was it spreading rumours that it was a takeover target? That is what The Financial Times seems to be saying.

Read the rest of this article at The New York Times.

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