Kerviel's texts - News - Evening Standard
       

Kerviel's texts

Messages sent by rogue trader Jerome Kerviel to broker Moussa Bakir reveal his fear of getting caught.

Kerviel said in October: "You didn't say anything about our trades, did you? Otherwise, I'll smash your head in."

Bakir, a broker at Newedge who was questioned by investigators over the scandal and released without charge, answered: "You're mad? It's between you and me."

A month later, when European clearing house Eurex raised concerns about Kerviel's bets, the trader wrote: "I don't want them to bring up 250,000 position."

Soon after Bakir told him: "You absolutely must take a vacation."

Kerviel replied: "In clink."

Bakir said: "Rubbish. What have you done wrong? You haven't raped anyone. You haven't done anything illegal in the sense of the law."

"I made a maximum amount of dosh, that's all," said Kerviel, who later defiantly added: "This will show the power of Kerviel."

"Or his irresponsibility," said Bakir. "A simple and discreet boy. Unassuming. Who makes a pile of dough. And not recognised for this true value."

Days before the full extent of Kerviel's actions were uncovered he seemingly felt the noose tightening.

"I'm stuffed," he wrote. A day later he was so nervous that he told Bakir he could not eat and he dreamed of getting out of the office that night "without trouble".

"Stop being so negative," Bakir replied. "Focus on the market."

Two hours later Kerviel wrote back to say he reckoned he was about to be fired.

"Good luck, pal," said Bakir.

"This pal is dead," wrote Kerviel.

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