Broker Blacks Out And Buys $520M of Oil Futures

 

http://www.aol.com/video/broker-blacks-out-and-buys-520m-of-oil-futures/517492225/?icid=maing-grid7%7Cmain5%7Cdl5%7Csec1_lnk1%26pLid%3D212547



 

Steve Perkins, a broker in London got drunk and bought $520 Million worth of oil futures. His trading binge caused oil prices to rise $1.50, and he bought 69% of the global market. He unsurprisingly had his trading license revoked. If he stays sober, he will get his license back in 5 years. The Financial Services Authority told CNBC “Mr Perkins poses an extreme risk to the market when drunk.”