Biggest On The Job Screwup EVER

Hell Toupee · 2012-10-04T16:56:18+00:00

'Drunken' Broker Sent Oil to 8-Month High in 2009 June 30, 2009, oil mysteriously jumped by more than $1.50 a barrelduring the night, to reach its highest price in eight months, the kindof swing that is caused by a major geopolitical event.Although not authorized to invest company cash in trades, StevePerkins, a long standing, senior broker at PVM Oil Futures, hadmanaged to spend $520 million on oil futures contracts throughout thenight, the FSA said.On the morning of the 30th, an admin clerk called Perkins to ask whyhe had bought 7 million barrels of crude during the night. Perkins hadno recollection of the transactions, and it turned out that he hadmade the trades during a ?drunken blackout," according to the FSA.Between the hours of 1:22 a.m. and 3:41 a.m., Perkins gradually bought69 percent of the global market, while driving prices up from $71.40to $73.05, by bidding higher each time.At 6:30 a.m., presumably sobering up and realizing what he?d done, hesent a message to his managing director claiming an unwell relativemeant he would not be able to make it into work.

Oct 04, 2012 25 Replies

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NotMe 13 years ago

It means only that MickD's is trying to push the market. Tried here (N. Texas) and it didn't work quite so well.

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Stormin Mormon 13 years ago

We got comfortable, and let the communists come in. And the socialists.

Christopher A. Young Learn more about Jesus

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When I was in college, gasoline was 22cents a gallon at the rural stations and a Wopper, fry and a coke was a dollar. $5.00/hr was considered a high paying job. We had a space program and men landing on the moon too. WTF happened? ^_^

TDD

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krw 13 years ago

QE-forever will do that.

WTF cares about tourism in that shithole?

So much for your 99% thing, huh?

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krw 13 years ago

Where are the jobs, dummy?

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krw 13 years ago

That old song is getting pretty tired, Comrade-F?

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Kurt Ullman 13 years ago

Especially since it isn't even bak to where Bush had it before the meltdown. Sorta like last week when they were bragging about how they finally got unemployment back down to where it was when he took over.

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