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In the case of Barings Bank (Barings), Nick Leeson incurred huge trading losses. Which of the following statements correctly describes one of the factors that led to the bankruptcy of Barings?
A
Barings had insufficient liquidity to cover marked to market losses.
B
Leeson used a long straddle strategy on the Nikkei 225.
C
Leeson held speculative double short positions in the market for Nikkei 225 futures contracts.
D
There was ambiguity concerning who was responsible for performing specific oversight functions.