The World’s Biggest Debtor

Jerome Kerviel owes more money than anyone else on Earth – to his former employer. The Huffington Post has the story…

Thanks to a court ruling in late October, the former junior trader for France’s second largest bank, Societe Generale, owes the company a cool $6.3 billion — an amount so gargantuan it couldn’t possibly be repaid.

But considering an appeals court upheld the sentence after Kerviel was accused of orchestrating $73 billion in what the Atlantic politely refers to as “unauthorized trades,” it’s difficult to maintain a grounded sense of proportion.

I guess the 35-year-old can start paying it off after he serves three years in prison for fraud. I’m sure he can handle it – it’s only about 0.007 percent of the $852 billion in revolving American consumer credit debt. No big deal, right?

Sign up for our free newsletter

Like this article? Sign up for our newsletter and we'll send you a regular digest of our newest stories, full of money saving tips and advice, free! We'll also email you a PDF of Stacy Johnson's '205 Ways to Save Money' as soon as you've subscribed. It's full of great tips that'll help you save a ton of extra cash. It doesn't cost a dime, so why wait? Click here to sign up now.

In debt? Find the solution that's best for you.

DebtFlex is FREE and confidential.

Click here to find out more.

If you're in debt, you might need help. But it can be overwhelming trying to find someone reputable who wont take advantage of you.

We've found a site that weeds out the nasty from the nice, and will help you pick a qualified and trustworthy partner to guide you on a path out of debt.

Comments & discussion

We welcome your opinions, but let’s keep it civil. Like many businesses, we reserve the right to refuse service to anyone. In our case, that means those who communicate by name-calling, racism, using words designed to hurt others or generally acting like an uninformed bully. Also, comments that include links to email addresses or commercial websites typically aren't posted. This isn't a place to advertise your business.