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Mr Leeson was the rogue trader who brought down Baring Brothers, a British merchant bank, in 1995; Mr Rusnak inflicted a $690m loss on Allied Irish Banks earlier this year.
Swiss banking-secrecy laws make these institutions popular with the filthy rich, who wish to handle their cash out of sight of various authorities.See article: Swiss private banks mergeJohn Rusnak was charged with fraud and other offences over his involvement in a foreign-currency dealing scandal at Allfirst Bank, an American subsidiary of Allied Irish Banks.
In his introduction, Rusnak suggests that the book is intended to be comic, not only in its charmingly related examples but also in the above defense of etiquette, which he considers "too presumptuous to be anything but ironic".
Of the three most prominent surviving Italian books on conduct, "Galateo," by Giovanni Della Casa, published in 1558 and now out in a new translation by M. F. Rusnak, is the one that promotes civilized manners for their own sake.
Mr. Rusnak worked hard to keep his wrongdoing a secret.
He pulled it off by renting a box at a Mail Boxes Etc. on the Upper West Side in Manhattan; when bank auditors wanted to verify his trades with the supposed Mr. Russell, Mr. Rusnak had them write to that mailbox, where he then replied as if he were the fictitious trader.
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Allied Irish Banks, which has had more than its fair share of trading fiascos losing nearly $700m in 2002 thanks to the activities of John Rusnak, one of its foreign-exchange traders is trying to hire another 20 traders in Dublin.VAR crashOf itself, VAR provides a conservative guide to the huge size of banks' current positions.
The chemicals giant plans to concentrate on its core business by ridding itself of a division that both fashion and East Asian competition have rendered less profitable.Bank insecurityAllied Irish Banks admitted that it had drawn up plans to tighten trading controls over a year before a $750m loss suffered after a fraud by a foreign-exchange dealer, John Rusnak.
"I got the year-end statement for my I.R.A. and it was within $2,000 of where it was the year before," said Mark Rusnak, a real estate agent in Virginia Beach.
"Today was a day that people took a little bit of a rest to try to digest all the news that has happened and the volatility that has happened in the market recently," said George Rusnak, national director of fixed income for Wells Fargo.
Mr. Rusnak, the real estate agent in Virginia Beach, said he knew he could not pay himself a commission on the house he bought.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com