How to pronounce “barings” in English

Barings' overconfidence in Leeson and Leeson's overconfidence in himself would be the bank's downfall.

Barings Bank was established in 1762, and it existed for over 240 years, withstanding the most extraordinary technological,

Leeson's and Barings' overconfidence was amplified by the complexity and unpredictability of the market and the trades he was making.

And three days later, Barings, one of the oldest and most trusted banks in the world, collapsed.

At SIMEX's 10th anniversary in September, Barings received two awards, largely credited to Leeson.

Instead of buying 20 futures contracts for a client, she sold them instead, costing Barings Bank nearly $40,000.

It's a dangerous move and it should have been picked up by the central office immediately, but when nobody from Barings notices, he gains confidence,

In December, he was flown to New York, seemingly responsible for $44 million in Barings turnover that year.

By 1995, Leeson's losses were in the hundreds of millions, and Barings had unwittingly sent him $1 billion.