This guy could have really used glass ceiling...
Posted: Thu Jul 01, 2010 1:26 pm
Wow. This tops any of the dumb things I did in my unreformed days (mainly because I didn't have 10 million dollars to lose).
From:
http://www.nytimes.com/2010/07/01/busin ... f=business
From:
http://www.nytimes.com/2010/07/01/busin ... f=business
June 30, 2010
Drink. Trade. Refill. Lose $10 Million.
By JULIA WERDIGIER
LONDON — Alcohol-induced behavior has produced many unintended consequences, but pushing up the global price of oil and losing $10 million must rank among the most novel.
Britain’s financial regulator disclosed on Tuesday that Steven Noel Perkins, a former oil futures broker, single-handedly engineered a jump in the price of oil a year ago and cost his firm millions of dollars with a string of unauthorized trades after a weekend of heavy drinking.
Mr. Perkins had just returned from a liquor-soaked golf weekend with colleagues in June of last year when he sat down in front of his laptop at his home east of London and started to place bets on Brent crude futures, .. The trades by Mr. Perkins were the main reason the price gained about $1.65 a barrel in just over two hours in the middle of the night, according to the report.
“Mr. Perkins’s explanation for his trading on 29 and 30 June is that he was drunk,†the F.S.A. said. “He claims to have limited recollection of events on Monday and claims to have been in an alcohol-induced blackout at the time he traded.â€