Societe Generale, France's Second Largest Banking Establishment, Had Long Had

question 74

True/False

Societe Generale, France's second largest banking establishment, had long had a reputation for having poor internal controls. It is no wonder that a relatively inexperienced trader was able to take advantage of the bank's system of weak internal controls to exceed his trading limit and cause the bank to lose more than €4.9 billion.

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Definitions:

Hostile Bidder

An entity attempting to acquire another firm against the wishes of the target company's management and board.

Friendly Suitor

A company or individual that makes a benign and often consensual offer to buy or merge with another company, as opposed to a hostile takeover.

Public Relations Campaign

A strategic communication process that builds mutually beneficial relationships between organizations and their publics.

Target Corporation

An American retail corporation, the eighth-largest in the United States, which operates a chain of discount stores offering various goods.