This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Five Dumbest Things on Wall Street This Week: April 27

2. BP's Bad Guy

It's taken two years and 200 million gallons of crude oil spilled into the Gulf of Mexico, but the Feds finally got their man. The Justice Department announced Tuesday it filed the first criminal charges in the Deepwater Horizon disaster, accusing a former BP (BP - Get Report) engineer of deleting text messages.

Yep, you read that correctly. It was the country's biggest offshore oil disaster, a tragedy which left 11 people dead and cost billions of dollars in environmental damage, and they busted a guy for deleting text messages.

Hey, give the government a break, at least they got somebody!

Kurt Mix, a former BP engineer, was arrested on two counts of obstruction of justice for allegedly destroying a string of 300 texts in which he and a co-worker were discussing the failure of the company to cap the leaking well. The messages were said to have been wiped out in October 2010 and August 2011, despite BP sending numerous notices to Mr. Mix requiring him to save all communications concerning the rig.

A number of the erased messages were recovered forensically, however, including sensitive information about the "top kill" plan which ultimately proved incapable of stemming the flow.

And now, unlike former BP CEO Tony Heyward, poor Mr. Mix looks like he's dead in the water.

Remember Tony?

That's right, he's the guy that wanted his "life back." And sure enough, that's exactly what he got.

4 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
RSH $0.31 12.76%
BP $42.89 0.00%
BIG $45.95 0.00%
CHK $15.45 0.00%
WMT $77.88 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs