Kerviel asked with insistence Dominique Pauthe

The tribunal will make its judgment on October 5, 2010 at 10 a.m. Well will need four months of deliberation to the judges of the 11echambre of the Correctional Court of Paris to untangle the complex case of Jérôme Kerviel. If the hearings helped to confirm the charges on the ex-trader of Société Générale, they do not have succeeded, on the other hand, the mystery motives of this young man of thirty-three years initiated 2.5 times the own funds of the Bank which employed him for, in fine, to lose EUR 4.9 billion. But they are fundamental. Jérôme Kerviel is "the creature from the Société Générale", as defended it his lawyer, Olivier Metzner, implied, the Bank, the financial system in general have "created characters such as Jérôme Kerviel by pure financial motivation." Or, on the contrary, the Bank, who acknowledged defects in its control system, she fished by an excess of confidence, abused by fake emails, fictitious operations of its trader As often, the truth is probably between the two. And the tribunal will have to adapt its decision.

Dominique Pauthe, the President of the 11echambre, certainly demonstrated many times a certain mood in an arrogant Jérôme Kerviel confusing personality, but it has not released the Bank. To Daniel Bouton, the ex-PDG of Société Générale, heard as a witness, the judge openly questioned: "is the Bank that gave birth to this mechanism, it produced, in his breast, the mechanism which could cause its loss, not First, the banker who became Council seems not even understand the question, then it loose: "the genius of evil fraudster was to invent an activity which was totally out of mandate". But Jérôme Kerviel has not invented the activity was actually not in its mandate, nor warrants, turbowarrants and other complex financial products. And the tribunal fully examined the record, what is underlying a more secrets for him.

Read between the lines of the judgment

Judges forget step, also, the are stratospheric incurred by Jérôme Kerviel. They seem quite soon convinced by his defence of "small thing" to the country of "sharks of finance". To do note. "Who are you therefore Mr. Kerviel", asked with insistence Dominique Pauthe. "You have really nothing to say!", insist on another occasion. But the ex-trader is stuck in his silence, his argument repeated like a mantra "the Bank could not not know", without the show.

Between the two, the tribunal will have to return to the bottom of the right: whether there was abuse of confidence To respond, Société Générale and the defence have cited the same case-law of the Court of cassation. But giving him, unsurprisingly, a radically different meaning. According to a decision of 1999, in effect, the tort does not consists when the employer had the necessary means to control the employee that he accused and that the facts repeated in time. "Person in the hierarchy, not even the Board of Directors of the Bank, could permit Jérôme Kerviel to engage these delusions are", argues François Martineau, one of the lawyers of the Société Générale. What is the liability of the Bank If the judges do not have to directly answer this question, they may however in their judgment expected a severe lesson to the Bank, which controls have failed. The decision will therefore be to read between the lines in the calculation of damages and the fine: If the Court requests an amount high Jérôme Kerviel - the Bank has requested EUR 4.9 billion to its ex-trader in damages-, it considers that it has no responsibility in the case. Conversely, does nothing request or almost nothing that is somewhat like Olivier Metzner Jérôme Kerviel as "the creature", Société Générale.

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