16655 Lecture Notes - Lecture 13: Procter & Gamble, Nick Leeson, Bbc
Document Summary
Companies that use derivatives to manage market risk: gibson greetings, proctor and gamble, orange county, barings, any reit this reporting season. Based on recent press reports, the current media definition sometimes seems to be, a derivatives transaction is any financial transaction in which a large amount of money is lost. "" The cautionary tale of the procter & gamble co. , which lost million when interest rates turned against it, is not the first nor probably the last that will emerge from the great shakeout of 1994. Nick leeson, the singapore-based futures trader, ran up losses totaling gbp827m which he covered up in secret accounts and false accounting. He was allowed to do so by christopher thompson, a senior bank of england official who gave barings a special waiver to fund hundreds of millions of share deals in the far east and who resigned last week. [founded in 1762, baring was england"s oldest merchant bank and had funded the.
