Jérôme Kerviel risked $50bn dollars so that he could feel like a star

Interesting news coming out from WSJ and FT about Rogue Trader- Jérôme Kerviel who risked $50Bn and lost about $6-7bn.The new theory is that he rose from the firm's back office to the trading desk but it was not enough because of the firms "elite" culture that looked down at the Deltaone desk.here is the key excerpt from todays journal:=============="I was held in lower regard than the others because of my educational and professional background." Mr. Kerviel told prosecutors over the weekend. His comments were from a transcript and confirmed by prosecutors and his lawyer.......When he started, Mr. Marchet (a labor rep from SocGen) recalls, even employees without college degrees could build successful careers. Suddenly, they found themselves overshadowed by new recruits plucked from France's top-notch schools. The rise of a new "elite" class, Mr. Marchet says, also meant "fewer working-class people were joining the bank."==============So Kerviel did this to feel like a star and to be well liked? I dont think so. I think the FT column nails it when they opine that Kerviel did this so that he could be considered a star and make more money in future years. In a really funny column,  John Gapper, compares Tom CruiseTom Cruise to Kerviel. Key parts below:==============In recent days we have witnessed two men taking leave of their senses. In one case, however, there was method to the madness........The first is Tom Cruise, the Hollywood film star and devoted Scientologist. In a clip made for members of the cult-like religious movement, Mr Cruise can be seen laughing manically and claiming special powers to help the victims of road traffic accidents because of his faith.......The second is Jérôme Kerviel, the "rogue trader" at Société Générale accused of losing his bank €4.9bn (£3.6bn). Mr Kerviel did not make money for himself by his trading. Instead, as Jean-Claude Marin, the Paris prosecutor, said this week: "He wanted to show that he was worth as much as the others around him. He truly believed that . . . everyone would recognise his financial genius."......Well, not completely. Actually, there is a good argument that Mr Kerviel acted in a financially rational manner, ...The basic principle of superstar economics, which applies to both entertainment and investment banking, is that a few people take most of the rewards. If you can establish yourself as a top talent either on screen or on a trading floor, you gain status and get rich....====