My man went through a lot because he's simply black if I'm not mistaken. I wonder what would have happened if my man was white? He probably would have been praised for saving the bank.
+Michael rushoki which fraud...financial loss it is called the last time i checked...when he was making gains..they were calling him financial wizard...now he is a frauster..smh...typical.
Michael rushoki his colleges were all white. He was in a team of 3 and was told to take the blame. None of his colleges have been ridiculed in the media or have been convicted of anything. This isn’t about putting color into anything but simply about stating a fact. And facts do not care about your feelings. This is simply speaking a case of white privilege.
This has nothing to do with colour. A white man has been convicted of similar charges before. He lost money where he was working. Colour has nothing to do with it else he wouldn’t have been working there in the first place.
Fuckers threw him under the bus, get into banking n what he did was normal. He just took a great risk. N where his counterparts now? Just asking cus he obviously ddint do dat alone
I'm disappointed in some of you British folks, when he was serving the country well ,you had no complains. Now that he has left, never regret your actions. God will judge you all who had a hand in his down fall. when will you appreciate black or other race for his good work done .shame to all who had a hand in this.
He kept losses of 5bn a secret. Need I remind you that were his actions to lead to the collapse of the bank (which they nearly did), it would be the working man's money (black, white or any other race) that he lost. The man was irresponsible and received the right punishment.
@@akinplus1 I actually have, and I'd like to make it clear that I think his deportation after serving his sentence was an absolute disgrace. The man served his time so he should've been allowed to return to society as normal. I stand by what I said. He was found guilty of fraud and I trust the judiciary (who had access to information that neither you or I could access) to make the right call.
When you execute a trade you specify the characteristics of the operation , prices and lot of other quantitative values and the counterparty. Then you hedge that position ( trying to remove the risk of loss in a way ) by taking reverse operations, or executing particular trades. Think of it as you waiting to go to a new place, you know you should be there in an hour, you have two options, take the subway and be there exactly one hour but then you risk being late if there's a problem somewhere, so you protect yourself by finding all the nearest bus stations around in case the subway stops somewhere so you can go up take the bus and be there on time. This is a fair practice and legal and done by everyone because you can't take decisions being unprotected. Now, if you still didn't manage to get there on time, you can aknowledge the fact that you were late and move on or you can invent a fake story to protect yourself from the blame. This is what seemingly happened. "Fake" operations to cover up the mess and make it seem like it was just risk hedging or dealing with another normal operation. Now, this is illegal of course. This is what happened for a long period of time and was discovered by prosecutors.
Lapping up all the fame and grinning like a Cheshire cat thinking it would all blow over. Funny how he wasn't grinning that much when he got a letter from the Home Office
Nick Leeson was a simple boy with zero qualifications and a lot of ambition. He desperately wanted to be on the trading desk. When he started the desk was full of barrow boy traders who took gambles and worked on instinct. By the time he got out of back office settlements the trading desk had changed. It was now populated by “Technopeasants” - guys with MBAs, PhDs, number crunchers who could spot an opportunity vis trend analysis. To compete with them Leeson started lying. The rest is history. UBS probably recruited Adoboli because of his ethnic background. Got to have a few Africans on the desk. The problem was Adoboli didn’t have a PhD. He didn’t have an MBA. He had Ecommerce from Nottingham FFS. My dog has better qualifications. And just like Leeson, Adoboli was desperate to succeed. He started lying. The rest is history.
i dont buy this.. let's not forget that he was doing good and was a start trader at UBS.. and I don't think UBS hired him for trader position just because he was African.. UBS could fill "diversity" folks to positions where stakes and exposure is not so high... he was a good trader but started being dihonest and succumbed to greed
@@mayank1252 I don’t buy that. He was put on the exchange-traded funds trading desk in 2008 and straight away began to conduct unauthorised trades. That’s not “star trader” - that’s a liability. He also used his personal funds on two spread betting accounts, IG Index and City Index, where he lost around £100,000 of his own money. That’s not “star trader” either - that’s “wanker”…. Trust me, he wasn’t given the job in his education or experience. It was because of his ethnicity. That worked really well didn’t it.
@@rosshilton I clicked on this video because It was in my recommendation somehow and I don't know much about this case But as per the video the guy got bonuses which kept increasing incoming years hence my judgement. Now why I think this guy could have been smart is because UBS or other bulge brackets do not take traders as a diversity hire.. the risk to have a diversity hire with respect to having a potential dude who can blow off the capital is not a worthy bet.
@@mayank1252 I work in banking. Two decades ago diversity didn’t matter. Harvard/Oxford/Cambridge mattered (I was Oxford). Then PC arrived. I see it on the desk every day.
@@rosshilton i work for a "big bank" too and I also am sometimes part of the interview process for technical positions... The process is largely fair where we need technical or number crunching talents. but I'm not from the states or UK so I can not say what they're doing there.
people really think no senior executives knew what he was doing? they are pressured into high risk high yield trades
Mulch Diggums So how long have you been a senior banking executive managing a trading operation?
You really have no idea do you.....
Why should he take the fall for the bank if they knew?
The real crooks got away with it in the end
How is this fraud... he didn’t profit from this
Insta Vids yes he does get commission lol stupid
Good question!! I believe he traded money on the stock exchange, but that money wasn't available on the bank's coffers, thus fraud...
Are you being serious? What he did was incredibly fraudulent.
The more he made the bigger his bonus. So he did it for personal gain.
Blame the tea boy while the bosses reap the rewards and pay them selves bonuses
My man went through a lot because he's simply black if I'm not mistaken. I wonder what would have happened if my man was white? He probably would have been praised for saving the bank.
What do you mean? He was convicted of fraud. Stop putting colour in everything
+Michael rushoki which fraud...financial loss it is called the last time i checked...when he was making gains..they were calling him financial wizard...now he is a frauster..smh...typical.
Michael rushoki his colleges were all white. He was in a team of 3 and was told to take the blame. None of his colleges have been ridiculed in the media or have been convicted of anything. This isn’t about putting color into anything but simply about stating a fact. And facts do not care about your feelings. This is simply speaking a case of white privilege.
+Temi Onifade My brother dont mind this people jare...
This has nothing to do with colour. A white man has been convicted of similar charges before. He lost money where he was working. Colour has nothing to do with it else he wouldn’t have been working there in the first place.
Free bobby shardue
Fuckers threw him under the bus, get into banking n what he did was normal. He just took a great risk. N where his counterparts now? Just asking cus he obviously ddint do dat alone
And none of you saw this coming 😂😂😂😂
thats peanuts for banks, plus banks are backed by the guvy if shit like this happens
If prices fall you can still profit from shorting
7 years he’s sailed the ocean
I'm disappointed in some of you British folks, when he was serving the country well ,you had no complains. Now that he has left, never regret your actions. God will judge you all who had a hand in his down fall. when will you appreciate black or other race for his good work done .shame to all who had a hand in this.
God bless you
He kept losses of 5bn a secret. Need I remind you that were his actions to lead to the collapse of the bank (which they nearly did), it would be the working man's money (black, white or any other race) that he lost. The man was irresponsible and received the right punishment.
@@richardoconnor6425 Perhaps you should follow his story see what really happened, so you can know the facts, because clearly you don't.
@@akinplus1 I actually have, and I'd like to make it clear that I think his deportation after serving his sentence was an absolute disgrace. The man served his time so he should've been allowed to return to society as normal.
I stand by what I said. He was found guilty of fraud and I trust the judiciary (who had access to information that neither you or I could access) to make the right call.
@@akinplus1
Clearly you don't Kinzo, but happy to discuss what happened....
Im not accountant, I cannot comprehend what he did wrong . .?
Shane Atkinson fake trading. Trading stuff that didn't exist.
When you execute a trade you specify the characteristics of the operation , prices and lot of other quantitative values and the counterparty. Then you hedge that position ( trying to remove the risk of loss in a way ) by taking reverse operations, or executing particular trades. Think of it as you waiting to go to a new place, you know you should be there in an hour, you have two options, take the subway and be there exactly one hour but then you risk being late if there's a problem somewhere, so you protect yourself by finding all the nearest bus stations around in case the subway stops somewhere so you can go up take the bus and be there on time.
This is a fair practice and legal and done by everyone because you can't take decisions being unprotected. Now, if you still didn't manage to get there on time, you can aknowledge the fact that you were late and move on or you can invent a fake story to protect yourself from the blame. This is what seemingly happened. "Fake" operations to cover up the mess and make it seem like it was just risk hedging or dealing with another normal operation. Now, this is illegal of course. This is what happened for a long period of time and was discovered by prosecutors.
He committed fraud against the shareholders.
@@rosshilton Ok.
@@Insertnamehere287 Ok.
And what if the trade was successfull?
Ronnie Flex he will be paid commission on the profit made.
@@abuyusra9916 I understand that, but he wouldnt have been jailed
Ronnie Flex no, he will be celebrated and probably get promoted.
Well he is back in Ghana. Everyone was saying “wait and see how well he will do back home”
So how is he doing?
Doing very well across the continent not just Ghana
@@kesseybros
Any evidence of his success????
Any links to his portfolios???
I looked and can’t find any. Can you back up your comment????
Check him out on youtube. Doing very well here in ghana
@@nanaoforiwaadamptey6870
That was my point Nana, googling him only brings up UPS and his trading there.
Any links to his career in Ghana?
Very well as it turns out.
Lies, campaign of calomny, name calling....Channel 4 disappoints me.
Its a casino!!
Shame
Ama Quansah shame urself
Cool, is it because he was black?
How's Rob?
they know everything and manipulated the risk investment
No wonder he didn’t want to be deported to Ghana.🇬🇭
Another Nick Leeson and the Fall of the House of Barings
Race or colour has nothing to do with this
Lapping up all the fame and grinning like a Cheshire cat thinking it would all blow over. Funny how he wasn't grinning that much when he got a letter from the Home Office
Nick Leeson was a simple boy with zero qualifications and a lot of ambition.
He desperately wanted to be on the trading desk. When he started the desk was full of barrow boy traders who took gambles and worked on instinct.
By the time he got out of back office settlements the trading desk had changed. It was now populated by “Technopeasants” - guys with MBAs, PhDs, number crunchers who could spot an opportunity vis trend analysis.
To compete with them Leeson started lying. The rest is history.
UBS probably recruited Adoboli because of his ethnic background. Got to have a few Africans on the desk.
The problem was Adoboli didn’t have a PhD. He didn’t have an MBA. He had Ecommerce from Nottingham FFS. My dog has better qualifications.
And just like Leeson, Adoboli was desperate to succeed. He started lying. The rest is history.
i dont buy this.. let's not forget that he was doing good and was a start trader at UBS.. and I don't think UBS hired him for trader position just because he was African.. UBS could fill "diversity" folks to positions where stakes and exposure is not so high... he was a good trader but started being dihonest and succumbed to greed
@@mayank1252
I don’t buy that.
He was put on the exchange-traded funds trading desk in 2008 and straight away began to conduct unauthorised trades. That’s not “star trader” - that’s a liability.
He also used his personal funds on two spread betting accounts, IG Index and City Index, where he lost around £100,000 of his own money. That’s not “star trader” either - that’s “wanker”….
Trust me, he wasn’t given the job in his education or experience. It was because of his ethnicity. That worked really well didn’t it.
@@rosshilton I clicked on this video because It was in my recommendation somehow and I don't know much about this case
But as per the video the guy got bonuses which kept increasing incoming years hence my judgement.
Now why I think this guy could have been smart is because UBS or other bulge brackets do not take traders as a diversity hire.. the risk to have a diversity hire with respect to having a potential dude who can blow off the capital is not a worthy bet.
@@mayank1252
I work in banking. Two decades ago diversity didn’t matter. Harvard/Oxford/Cambridge mattered (I was Oxford).
Then PC arrived.
I see it on the desk every day.
@@rosshilton i work for a "big bank" too and I also am sometimes part of the interview process for technical positions... The process is largely fair where we need technical or number crunching talents.
but I'm not from the states or UK so I can not say what they're doing there.
Lol thrown under the bus
Sacrified
Perfect. I am very happy to see this what about his bosses?????
This is nonsense
1.4 billion bullshit
So you are telling no one knows
rekt
Now deported to Ghana, goodbyeeeee
@GRE i agree... 😂😂😂
He’s gonna get released later with media saying “mis accused black guy”
He didn't. He did his time then refused to leave the UK.
ayyyyy
419 is just a game