Kashya Hildebrand schools the world on insider trading

Billionaire brings down Swiss Banker Hildebrand

Swiss National Bank President Philipp Hildebrand has resigned effective immediately.

Kashya Hildebrand, his wife classically pictured above, transfered Sfr400,000 into US dollars three weeks prior to Mr.Hildebrand and the Swiss National Bank famously set a ceiling for the Swiss franc [aka "the EURCHF floor"] to help save and protect the plunging euro.

Front-running profits quickly came to Kashya's account [a Sfr75,000 profit in just two months – a 19 per cent return, well over 100% annualized]

Christoph Blocher, billionaire industrialist and ultra-nationalist politician, alerted Swiss President Micheline Calmy-Rey to the Kashya dollar trade in December 2011 to ignite the scandal.

"We all know that he is a man of total integrity, extraordinary ability and, most important of all, courage. Such people are rare. His country will miss him," Bank of England Governor Mervyn King said in a statement. Jolly good, Governor!

Billionaire 1, Unemployed Banker 0.

The euro is trading higher in FX trade today.

Billion Euro trader Jérôme Kerviel plays the victim card

Billion Euro Société Générale trader Jérôme Kerviel (whom is not a billionaire himself) has played the victim card across the pages of the press worldwide.

Mr Kerviel, interviewed by Agence France Presse, is quoted as saying the following gems:

“I am taking my share of responsibility, but I will not be the scapegoat for Société Générale.”

“I never had any personal ambition in this affair. The aim was to earn money for the bank.”

“You lose your sense of the sums involved when you are in this kind of work. It’s disembodied. You get a bit carried away.”

Mr Kerviel has still not been relieved of his "responsibilities" at Soc Gen and still has not inked a Hollywood movie deal (yet). Stay tuned.