Tuesday, October 13, 2015
You know that changes are coming when it costs people their job or their freedom.
The CME just banned 3 traders for life based on their intentional attempts to game the bid using a technique known as spoofing. The details are not important. What is important is that the herd is now seeing enforcement of rules that blind eyes have been turned to for a long time. In other words, rule of law is taking over again. Trust me when I tell you that this is going to tilt the game away from Wall St and that its ill-begotten profits will collapse as a result. The only reason they have such an advantage is that they cheat and the new conservative wave is going to punish cheaters in very personal and punitive ways instead of just ignoring it as was the case up until now.
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