Leeson offers op risk insight

He describes the similarities as "frightening" and says the only difference between these cases and Barings is that the institutions had sufficient capital to withstand the losses.

Leeson – who spends his time working for a cancer charity in Ireland, as well as writing for a gambling magazine, playing poker and lecturing on his experiences working for and defrauding Barings Bank – rejects the notion that such blow-ups are the result of "devious and complex frauds".

While the derivatives being

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