As a result, 1994 became a year of sharp increase in losses. Due to the pressure of huge losses, Nick Leeson lost the ability to analyze the market and was led by the market. The loss of account 88888 increased from 65438+20 million in early 0994 to 50 million in July. In order to get the money, Nick Leeson lied that SIMEX asked Bahrain Bank to provide a deposit for his clients. In fact, he found the source of the money and provided a deposit for himself. Initially, the Bank of England stipulated that it was illegal for other banks to remit more than 25% of their total funds overseas. However, the application of Bahrain Bank was acquiesced by the Bank of England. At that time, Thompson was a senior official in charge of the supervision of commercial banks. He said that some things might be "buried in piles of papers". Therefore, Nick Leeson can apply for a large amount of funds from the London headquarters without being asked.
In some gambling transactions during the period of 1994, Nick Leeson suffered a series of losses, because the telephone may be tapped. Although there are times to make money in trading, there are also more times to lose money.
Trading risk
1994 12 two months before the bankruptcy of Bahrain Bank, Li Sen was regarded as a hero by 250 employees of Bahrain Bank worldwide at the Bahrain Financial Achievement Conference held in new york. At that time, his boss Ron only cared about how much profit Li Sen could make to pay the dividend in February next year.
By 1995, Nick Leeson's loss had reached1600,000, leaving a deficit of 50 million in the account of 88888. When the head office inquired about this matter, Nick Leeson lied that there was an over-the-counter transaction with SLK, which owed money, and forged SLK's promise to repay 50 million pounds, so that Citibank received 50 million pounds through transfer. As early as the summer of 1993, Bahrain Credit Department decided to provide SLK with a limit of US$ 5 million, but Bahrain Company took the decision to cover up its mistakes, which gave Li Sen another month to breathe. Although someone wrote a memo about it, no one discussed it, and no one asked where the 50 million went and tried to cover it up.
199565438+1October 18, Kobe earthquake, Japan, the Nikkei index fluctuated greatly in the following days, and Nick Leeson made a lot of profits in the early stage. However, due to the large deficit in the past, it is impossible to pay off all of them. At that time, Nick Leeson obtained funds from London for investment at the rate of 6,543,800+million pounds per day. However, he made a fatal mistake in this investment. He bought a lot of Nikkei futures and shorted JGB government bonds. As a result, the index fell all the way, while JGB rose all the way. Although the headquarters was dissatisfied with the huge sum sent to Li Sen every day, it was delayed by Li Sen.
1In February, 1995, Li Sen tried to buy the Nikkei index and try to support the market by himself, but this effort failed completely, and the Nikkei stock price plummeted. On February 23rd, Li Sen brought a loss of 860 million pounds to Bahrain Bank, which led to the termination of the oldest Bahrain Bank in the world. (SIMEX also wrote to Bahrain Bank to inquire about account 88888, and was worried about the amount of funds needed to maintain account 88888. Although SIMEX obtained a huge margin from account 88888, SIMEX believed that Bahrain Bank paid the margin for its customers, but SIMEX stipulated that member companies should not provide funds for customers' trading margin. Although the superior also knew about it, he never carefully checked the account number 88888, and casually mistyped SIMEX, allowing Li Sen to prevaricate skillfully. )
Common varieties of dried fruits are walnuts, pistachios, cashews, pine nuts, pecans and hazelnuts. 1, Walnut: Walnut is one of the four largest dried fruit