BANKS ARE FINED FOR LIBOR & ENERGY MANIPULATION, BUT PROSECUTION OF PM RIGGING CANNOT BE PERMITTED!…”The government is the market”
JULY 22, 2013
We know market rigging occurs every day. We may not be able to see it, as it’s hidden in vast arrays of high frequency trading at the nanosecond level. The manipulators can conceal their work through offshore accounts. Proxy traders conceal their actions, but we still know it goes on.
Why do these excesses and criminal actions get punished only lightly, with no jail time and little more than a miniscule fine?
Because it is in the interest of the government to disclose only enough to the viewing public so that it is possible for a prosecutor to wage his little war against JPM, while, in the full knowledge that the real story is infinitely deeper.
It’s like prosecuting the Mafia. A don or two goes down but the enterprise continues to thrive. Every one prospers; banks, criminals, attorneys and the government. Its a win-win for all except the marks who suffered predations by these people.