Bernard P. Carey

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Bernard P. Carey

Bernard P. Carey[1] was a member of the Chicago Board of Trade from 1940 until his death in May of 2008. He served as chairman[2] of the CBOT from 1963 to 1965.[3][4] Both his father (Peter B. Carey) and nephew (Charles P. Carey) also served as chairman of the CBOT.[5]

Background[edit]

While Carey was CBOT chairman the so-called "salid-oil scandal of 1963" hit the exchange.[6] A former New Jersey meatpacker named Anthony ("Tino") DeAngelis had bought soybean oil contracts after fraudulently obtaining $175 million in bank loans. Using warehouse receipts for vegetable oil as collateral, he fooled inspectors with storage tanks with a couple feet of oil on the top and the rest water.[7][8] Carey called the orderly liquidation of the soybean oil contracts "one of my proudest moments at the Board of Trade" in a 2005 interview in Crain's Chicago Business.[9]

Carey was featured in a chapter of "My Word is My Bond", a 2008 book by Arlene Michlin Bronstein featuring interviews with 21 influential members of the Chicago Board of Trade.[10][11]

Education[edit]

References[edit]

  1. Bernard Carey, CBOT veteran, has died. Crain's Chicago Business.
  2. Board of Directors. Chicago Board of Trade.
  3. Bernard P. Carey. Chicago Tribune.
  4. Carey. Crain's Chicago Business.
  5. Bernie Carey--trading is in the blood. Futures Magazine.
  6. Carey. Crain's Chicago Business.
  7. The Man Who Fooled Everybody. Time Magazine.
  8. Justice Steps In. Time Magazine.
  9. Carey. Crain's Chicago Business.
  10. My Word is My Bond. Amazon.com.
  11. My Word Is My Bond: Voices from Inside the Chicago Board of Trade. Globalbookstore.com.
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