More Kerviel Discussion

O.K. nobody has answered my basic question:

Kerviel "bet" real euros -- enough to break the bank. He was hedging with "bogus" hedges.

So, what's the counter-party see? A huge bank about to go broke. So where were the "margin calls?" Or, as I suspect, is there a general agreement that "you're good for it," because you are Societe Generale.