Rogue wheat trader

Discussion in 'Commodity Futures' started by TheDudeofLife, Feb 28, 2008.

  1. LOL, first of all, what are they teaching these people.

    Second of all, it's hard to believe they don't have some type of system to check what is happening on at the very least a mark-to-market basis.

    If I were them, I'd seriously higher a team of programmers to solve the problem post haste ...
  2. Who was on the other side of those trades? They're eating steak and baby seal for dinner tonight.
  3. Rogue only if the trade was one day only. If he could enter a trade why would it be rogue?

    Had he made 141 Million he would have been a hero.
  4. If he had made $141 million he wouldn't have been able to keep any of it. The O'Hare spread doesn't pay if you win. That is why the guy was an idiot.
  5. Rogue = unauthorized.

    Just because he had access to a really big red button doesn't necessarily mean that he was allowed to press it. An oversight on the part of management, stupid or otherwise, does not justify his conduct. Assuming, of course, that we can accept the article at face value.