'Why did you do that ?' his supervisor, Javier Martin- Artajo, said at the start of the March 20 call. The position was failing to recover, Iksil explained.
'Okay, Okay, listen you’ve done it', Martin-Artajo said, according to a transcript. 'You think that this is right. This is not what I would have done but you’ve done it so I’m okay with this'.
The conversations were revealed last week as the U.S. Senate Permanent Subcommittee on Investigations released a 301-pagereport on the botched derivatives bets, as well as almost 600 pages of e-mails, phone-call transcripts and other records.
While lawmakers used the documents to bolster their findings that the New York-based company and its executives misled investors and regulators, the tome also provides a rare look at how traders and their bosses grappled with stress and a growing sense that they wouldn’t be able to contain the damage.
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