Who is the most Indebted Man in the World?

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The answer is that man is Former Société Générale rogue trader Jérôme Kerviel, who owes the bank $6.3 billion. His case tells us a lot about financial reform.

Questions:
1. According to the article, how exactly do you carry out €50 billion (or about $73 billion) of unauthorized trades? (Focus on the controls mentioned.)
2. Explain what Kerviel was supposed to do with European stock futures as opposed to what he did.
3. How does the Kerviel fine compare to the Goldman Sachs settlement? Discuss what this Kerviel case means regarding financial reform.

Source:
O’Brien, M. (2012). Meet the Most Indebted Man in the World. The Atlantic, Nov. 2 (Retrievable online at http://www.theatlantic.com/business/archive/2012/11/meet-the-most-indebted-man-in-the-world/264413/)