FTAlphavilleFT Alphaville is a 2008 Webby Award Winner

• News
• Markets Live

The lawyers may have dismissed these as irrelevant. But the instant messages between SocGen trader Jérôme Kerviel and his broker at Newedge, Moussa Bakir, make interesting reading.

The FT’s extracts are below. The exchanges were leaked to Nouvel Observateur magazine in the original slang-laden French.

On October 11, Mr Kerviel wrote: “You haven’t said anything about our trades? If so, I’ll smash your face in.” Mr Bakir replies: “Woa. You’re mad. It’s between you and me.”

On December 13, Mr Bakir wrote “You are absolutely going to have to take your holidays.” Mr Kerviel replied: “Behind bars.”

Mr Bakir: “Rubbish. What have you done wrong? You haven’t raped anyone. You have done nothing illegal according to the law.”

Mr Kerviel: “I have made loads of cash, that’s all.”

Mr Bakir: “I would love to be put behind bars everyday when I make money legally.”

Mr Kerviel: “Shut up.”

Mr Bakir: “Bitch”.

Mr Kerviel: “This is going to show the power of Kerviel.”

Mr Bakir: “Or the recklessness.”

Mr Bakir again: “Quiet and simple boy. Keeps a low profile. Who makes loads of cash and is not given the credit he is due.”

On January 18, the day when Mr Kerviel’s huge exposure was discovered by the bank, the trader tells his broker: “I am in deep shit.”