Wow, never did anything like this when I was drunk. Not sure I agree that buying that much oil would boost the price for eight months.
To: 1rudeboy; Mase; expat_panama; Rusty0604; Jim 0216; xjcsa; VegasCowboy; 10Ring; Bishop_Malachi
2 posted on
09/29/2012 9:35:05 AM PDT by
Toddsterpatriot
(Math is hard. Harder if you're stupid.)
To: Toddsterpatriot
never did anything like this when I was drunkNot to worry, that's why we have representatives in Washington DC, to do the drunk spending we won't do.
/johnny
To: Toddsterpatriot
How did his company end up losing $10 million?
Oil basically went straight to $85/barrel over the next 4 months.
4 posted on
09/29/2012 9:40:44 AM PDT by
PGR88
To: Toddsterpatriot
If he didn’t have authorization, why did the company software allow this to happen? This trader isn’t the only idiot at the company.
To: Toddsterpatriot
I believe there was price manipulation. I’m not sure I believe the story off the drunken trader. There have been too many “rogue” trading incidents for any rational company not to have somebody assigned to check.
6 posted on
09/29/2012 9:46:57 AM PDT by
SauronOfMordor
(this space for rent)
To: Toddsterpatriot; Revolting cat!; Slings and Arrows; JoeProBono
The broker managed to spend $520 million of company funds on oil futures the night of June 29, 2009, despite having no authority to do so. The following morning, when asked about the expenditure by an admin clerk, Perkins had no recollection of the purchase."IRRATIONAL EXUBERANCE!!!"
9 posted on
09/29/2012 10:05:38 AM PDT by
a fool in paradise
(Obama likes to claim credit for getting Osama. Why hasn't he tried Khalid Sheikh Mohammed yet?)
To: Toddsterpatriot
Then signs up on Freerepublic as Soloman8522.
13 posted on
09/29/2012 10:15:05 AM PDT by
CrazyIvan
(Obama's birth certificate was found stapled to Soros's receipt.)
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