Cityphilia
John Lanchester: The credit crunch, 3 January 2008
“... traders who have lost more than a billion dollars at a time betting on derivatives is not short: Robert Citron of Orange County, Toshihide Iguchi at Daiwa, Yasuo Hamanaka at Sumitomo and Nick Leeson at Barings, just to take examples from the early 1990s. In Leeson’s case in 1995, it was a huge unauthorised position in futures on the Nikkei 225, the main ... ”