MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
http://www.bbc.co.uk/news/business-35879099
If he ends up being tried in America I think he will be staying for quite a while.
He is a bit of a convenient scapegoat for the 'flash crash' after it was originally blamed on a US firm which was proved not to be the case.
Whilst what he was doing is against regulations it is highly unlikely that his trading was solely responsible for the crash (if at all given the size of other players in the market).
Whilst what he was doing is against regulations it is highly unlikely that his trading was solely responsible for the crash (if at all given the size of other players in the market).
Will be interesting to see if he can subpoena all of the CME's trades for the day in question and see if it was just him moving the market (I don't know if this is public knowledge or not).
Free lodging etc what more do you want? 😆
Ya, as if the world is full of angels ... 🙄
So he allegedly illegally manipulated the markets to make £28,000,000 and in all probability causing others to loose substantial sums. What ever faults America has at least they take white collar crime seriously.
Will be interesting to see if he can subpoena all of the CME's trades for the day in question and see if it was just him moving the market (I don't know if this is public knowledge or not).
There will be a full audit trail of all trades and quote updates but I'd imagine getting this granularity out of the CME is going to be a struggle.
What's he worried about, he'll get a fair trial.
It's not like he's foreign, or coloured, or a scapegoat - oh...