There are Drunken Rogue Traders, and There Are Drunken Rogue Traders

I am childishly fond of almost everything about this story about a drunken rogue trader who has been fined and banned for drinking and then manipulating oil markets. Having said that, this closing sentence was too good to lose:

He was "not a fit and proper person" to work as a broker as he posed "an extreme risk" to the market when drunk.

Right. Traders at most brokerage firms I’ve been around only posed a minor risk to the market when drunk. We have to keep the “extreme risk” sorts far away.

Related posts:

  1. Rogue Traders, Knave Traders, and the Subprime Blame Game
  2. Taleb: Rogue Traders and Why Big Banks Break
  3. Traders, Balls and Testosterone
  4. Options Traders and Mary Hart
  5. Regulating Traders via Earn-Outs