Lepista Posted March 23, 2016 Share Posted March 23, 2016 http://www.bbc.co.uk/news/business-35879099 So somebody in the UK, never having stepped foot into America, can be extradited to America to stand trial for alleged crimes according to American law??? I don't get it. If he's guilty of a UK crime, surely he should be tried in a UK court, to UK laws?? Quote Link to comment Share on other sites More sharing options...
Errol Posted March 23, 2016 Share Posted March 23, 2016 (edited) Of course no Bankers on Wall Street have ever carried out any crimes at all. The suggestion is just sheer nonsense. Edited March 23, 2016 by Errol Quote Link to comment Share on other sites More sharing options...
dougless Posted March 23, 2016 Share Posted March 23, 2016 (edited) It looks to me that he showed how 'weak' the system is. He should be rewarded. Oh sorry, he showed how 'weak' the system is, he should be punished in another country...hmmmm. Edited March 23, 2016 by dougless Quote Link to comment Share on other sites More sharing options...
billybong Posted March 23, 2016 Share Posted March 23, 2016 (edited) Wow - they claim he's guilty of manipulating the markets. So he beat them at their own game. Doubt it'll set a legal precedent for them though. Edited March 23, 2016 by billybong Quote Link to comment Share on other sites More sharing options...
Errol Posted March 23, 2016 Share Posted March 23, 2016 Remind me again - how many went to prison relating to LIBOR (or any of the other MARKET MANIPULATION scandals)? Quote Link to comment Share on other sites More sharing options...
Fully Detached Posted March 23, 2016 Share Posted March 23, 2016 One rule for them and another for the rest of us. And when it suits them, they'll toss you to the wolves without a second thought. Quote Link to comment Share on other sites More sharing options...
Ulfar Posted March 23, 2016 Share Posted March 23, 2016 He is obviously not part of the right social class or group. Only those allowed to manipulate markets and exploit the loopholes are allowed to do so, look at the fuss over celebrities using tax loopholes that those in power also use. Quote Link to comment Share on other sites More sharing options...
opt_out Posted March 23, 2016 Share Posted March 23, 2016 Forgetting about the legal side, which does seem very unjust. It seems odd that a small player can spoof the system, I thought all the arbitrage took place in milliseconds these days, so his spoofs should get filled before he could retract them ???. Quote Link to comment Share on other sites More sharing options...
opt_out Posted March 23, 2016 Share Posted March 23, 2016 At least 1, linked at the bottom of subject article http://www.bbc.co.uk/news/business-35879951 Remind me again - how many went to prison relating to LIBOR (or any of the other MARKET MANIPULATION scandals)? Quote Link to comment Share on other sites More sharing options...
stuckin2up2down Posted March 23, 2016 Share Posted March 23, 2016 Forgetting about the legal side, which does seem very unjust. It seems odd that a small player can spoof the system, I thought all the arbitrage took place in milliseconds these days, so his spoofs should get filled before he could retract them ???. I thought the same, surely one persons spoof orders shouldn't crash the whole market? Quote Link to comment Share on other sites More sharing options...
Kinky John Posted March 23, 2016 Share Posted March 23, 2016 It's beyond revolting .. he's not a nice guy but how can somebody with so little money manipulate a market I've put 3 billion dollars through on a stressed day. And he was hardly using an aggressive strategy like I used to have to deal with from the banks. I would ******ing know .. I used to be a part of that market. If you start with the market makers and work back from there I guarantee you'll never wind up in Hounslow .. unless somebody buries your dead body there. Quote Link to comment Share on other sites More sharing options...
Nationalist Posted March 23, 2016 Share Posted March 23, 2016 http://www.bbc.co.uk/news/business-35879099 So somebody in the UK, never having stepped foot into America, can be extradited to America to stand trial for alleged crimes according to American law??? I don't get it. If he's guilty of a UK crime, surely he should be tried in a UK court, to UK laws?? This. US law does not apply in the UK. If he broke UK law try him here, otherwise leave him alone. Quote Link to comment Share on other sites More sharing options...
Amiinsane Posted March 23, 2016 Share Posted March 23, 2016 He's committed the ultimate crime - trying to play at the big table without powerful friends to bail him out. Quote Link to comment Share on other sites More sharing options...
Travisher Posted March 23, 2016 Share Posted March 23, 2016 This. US law does not apply in the UK. If he broke UK law try him here, otherwise leave him alone. Sadly when it comes to extradition nothing stands in the way of how far our government will bend over to satisfy the USA. Mental illness - no excuse. Outside their jurisdiction - nowhere in the UK. Not a crime in the UK - so what? Of course the other way round and US citizens are untouchable. Trump has broken incitement to hatred laws but will he stand trial if he visits his golf course in Scotland - the hell he will. Quote Link to comment Share on other sites More sharing options...
sPinwheel Posted March 23, 2016 Share Posted March 23, 2016 (edited) Bend over, the US want to shaft a UK citizen. Oh OK then. But go away EU! Stop meddling in our lives! Edited March 23, 2016 by sPinwheel Quote Link to comment Share on other sites More sharing options...
honkydonkey Posted March 23, 2016 Share Posted March 23, 2016 Quote Link to comment Share on other sites More sharing options...
wonderpup Posted March 23, 2016 Share Posted March 23, 2016 So the system is so fragile that it can be undone by a bloke operating from his bedroom in his mum's house using a bog standard PC on a bog standard web connection? So why did they spend billions on superfast cable in order to gain fractions of a second trading advantages? Something is not right here. Quote Link to comment Share on other sites More sharing options...
Tapori Posted March 25, 2016 Share Posted March 25, 2016 (edited) He is obviously not part of the right social class or group. Only those allowed to manipulate markets and exploit the loopholes are allowed to do so, look at the fuss over celebrities using tax loopholes that those in power also use. This. If he'd an aristocratic double-barreled name, no way. Edited March 25, 2016 by Tapori Quote Link to comment Share on other sites More sharing options...
porca misèria Posted March 25, 2016 Share Posted March 25, 2016 Is this petition-territory? They eventually - and for much less clear reasons - stopped the extradition of that fellow who hacked into the pentagon eventually looking for UFOs. Once upon a time I heard a story of someone who got the better of a 419 scammer[1]. Seems to me that this guy is a pretty exact moral equivalent of that. His trick (unless meeja explanation is very misleading) relies entirely on the victims' own attempts to steal. [1] He engaged with the scammer as though he'd fallen for it. Then tells scammer he can't put that through his personal account, but his church could do it. But you'd have to be a member of the church for that to be allowed. The 419-er paid a year's membership at this newly-minted church! Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted March 25, 2016 Share Posted March 25, 2016 If they knew the algos the market makers used they'd see this was the same. Oh they do. Must be about who you know then. Quote Link to comment Share on other sites More sharing options...
Errol Posted March 25, 2016 Share Posted March 25, 2016 So when does Jamie Dimon get arrested then? Quote Link to comment Share on other sites More sharing options...
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