‘How a Broker Spent $520 Million in a Drunken Stupor and Moved the Global Oil Price’
[Via Daring Fireball]
Rowena Mason, reporting for The Telegraph:
By 10am it emerged that Mr Perkins had single-handedly moved the global price of oil to an eight-month high during a “drunken blackout”. Prices leapt by more than $1.50 a barrel in under half an hour at around 2am – the kind of sharp swing caused by events of geo-political significance. Ten times the usual volume of futures contracts changed hands in just one hour.
Now that’s a bender. (Via Chris Espinosa.)
These are the guys who are in charge of our financial system? Sure makes me think about putting some gold into a mattress.