Suicide: Brazilian Trader Paulo Sergio Silva Shoots Himself At Financial Exchange

A bizarre year in finance took another tragic turn in Brazil today, where a trader apparently shot himself on the open trading floor of the Sao Paulo commodities and futures exchange.

Paulo Sergio Silva, 36, a trader for the brokerage arm of Brazilian banking giant Itau, shot himself in the chest during the afternoon trading session, the exchange said, and hospital staff said he was in critical condition.

Silva was given first aid on the scene before being transported to the hospital, BM&F Bovespa SA, which operates the exchange, said in a statement without providing further details.

The year has already been a difficult one for Brazilian traders, who were forced to stop trading during the worst of the global economic crisis in late October. After Silva shot himself, trading was halted again on the floor, though not electronically:

Trading in derivatives and commodities was halted for 15 minutes after the shooting occurred shortly after 3:30 p.m. local time (12:30 p.m. New York time), BM&FBovespa, Latin America's largest securities exchange, said in a statement. Traders said people on the floor scurried after the incident, which took place in the interbank rate contract pit.

``It was quite a shock,'' said Decio Pecequilo, senior trader at TOV Corretora in Sao Paulo.

Electronic trading wasn't halted, an exchange spokesman said. Stocks on the exchange are only traded electronically.

Comments

[flatus]

He could have saved himself a lot of pain and freed up a hospital bed if only he would have had the courage to go with a head shot. Maybe he didn't want to muss his haii. Shooting yourself in public, scaring the crap out of so many others in the process, is not cool, people.

[winningticket]

I knew something like this would happen. Surprised it hasn't happened sooner. This world economic meltdown is driving people to extremes. My deepest sympathies to that unfortunate individual and his family.

[Sundialsvc4]

What a senseless tragedy for Mr. Silva and his family.

"It's only paper, dammit." Go outside and look at the sunlight. Feel the wind on your face. Take a trip to the countryside for one day and put your feet (briefly) into a cold mountain stream and let the market do without you for a day.

[Pupadup4oBama]

Sometimes it's not so easy to see the bright side of things when you are in such despair.
This is a sad thing.

[rocknroll33s45s]

THANK YOU,thank you.Sundialsvc4...YES "It's only paper, dammit."I am in a economic crisis and desperately in need of help as soon as possible. The only bailout I have available to me is taking a flying leap. I am not able to hang myself, because I am hanging on the end of my rope with both hands. You made me see the sunlight for the first in a long time. When I stop crying.I"m going outside and look at the sunlight. Feel the wind on your face. Take a trip to the countryside for one day and put your feet (briefly) into a cold mountain stream and forget all this bill I can not pay.YES "It's only paper, dammit."GOD BLESS YOU Sundialsvc4

[distance88]

""In God We Trust" written on the paper,
which soon will burn
as humans learn
to upgrade
advance
got way too far in the waters of chance"
--Mr. Lif

[tds1273]

If you have tears prepare to shed them now. For you share the guilt of blood spilt in accordance with the Dow Jones. Dow drops fresh crop skull and bones. A machete in the heady: Hutu, Tutsi, Leone. An Afghani in a shanty. Doodle dandy yank on! An Iraqi in Gap khaki. Coca Coma come on! Be ye bishop or pawn, in the streets or the lawn, you should know that these example could go on and on and what since does it make to keep your ears to the street? As long as oils in the soil, truth is never concrete. So we dare to represent those with the barest of feet. 'Cause the laws to which we're loyal keep the soil deplete. It's our job to not let history repeat.
-Saul Williams

[lucesco]

Great quote!

[pbley68]

A bloodbath on Wall Street would be interesting.

[Krackonis]

And long overdue.

[MetalCanuck]

This is bad, you will see much more of this too. We would be seeing it more now if the government wasn't bailing out the financial industry, but we would also see a lot of people going to jail if we didn't vote Repub or Dem. They will not send the real players to prison.

[OSA23]

money has become distorted:

where truly a TOOL to provide in-roads to personal elevation of the mind, body, and spirt, money has become chosen by many as sitting upon the throne of righteousness and god. the financial collapse reflects the true mark of the beast: not the overly misunderstood 666 but the blindness that has corrupted entire nations (aka the united states...) to the point whereas this blindness has led to the viral infection of many nations worldwide.....

however: this collapse should be seen as reflecting the need to renew our visions towards a true living and not the artifice of having 'stuff' that was purchased by credit and by gambling the future for a momentary time living high on the carcasses of the 'rat race'.....

winners do not only 'take all' but winners without vision will 'take all' of the viral contamination that comes along with the territory of being the 'top dog'. we need to re-align ourselves to what truly does matter: living that addictive life of excess and overkill, or living a life of functional and adapting means....

[vedder110]

Take a xanax, go to sleep, and tommorow you'll be mildly embarassed about the stoner drivel you posted here.

[Pupadup4oBama]

maybe a bong hit would do YOU some good.

[Sundialsvc4]

Hey, let's cut OSA23 a little bit of slack. It really IS 'written' that "the love of money is the root of all evil," and we can just take that to mean that "money really does become 'distorted.' " Here it caused a man who should be in the prime of his life to pick up a gun and publicly try to take his own life.

All of this "money" really has become "straw." They say there's more than 8 times more ("nobody really knows how much more") "money" in this world than there is actual, measurable value. And it is on account of "all that straw," and the empty hopelessness it engenders (even though it has no value), that something that IS of real value has been lost ... a human life.

[wdw102]

it would be funny if he missed........failure again oh darn

[CindyKay]

He did MISS , if He was set on suicide it would have been a head shot

[Pupadup4oBama]

it's not really funny either way.

[planetjeffy]

this is the 08 version of jumping out the window. look for more of this as the world economy tanks over the next year or two.

[CindyKay]

Sad but True

[efdcapt115]

"The year has already been a difficult one for Brazilian traders, who were forced to stop trading during the WORST of the global economic crisis in late October."

The WORST is yet to come.

[americaforme]

Stocks is the biggest gamble in the world; the worst part is that traders get their ego's all bound up in their decisions, conning themselves, it was a business, thus forgetting that Lady Luck never plays by the rules of kindness.

[Yermammy]

For them to stop floor trading for 15 minutes is a testament to their compassion and empathy.... to make money. "I got beans right here for 2/5ths!"

[TheImpaler]

I used to work on a major futures exchange floor in the States. You couldn"t even smuggle a banana through the security gate, if people could carry guns through suicides would be the least of anyone"s worries; homicides would be very common, not to mention collateral damage on account of misses.

[kingmiller]

all of you are inane.

[evolman]

Wow! What a comment!

[goflo]

Well, people are STUPID. But then again, alot of the people making the stupid comments might be depressed and thinking about doing the same thing to themselves. Very sad.