SocGen: Sarkompatible

Daniel Bouton was in a tight spot two months ago. The chairman and chief executive of Société Générale had to confess that the bank he has been proudly managing for a decade had lost E5bn through the wacky trades of a low-level employee. Bouton tendered his resignation, which was promptly turned down by the board. It was Bouton’s mess. Bouton had to clean it up. Then Nicolas Sarkozy weighed in with repeated suggestions that Bouton - whose relations with the French president have never been good...