Wednesday, May 25, 2011

Regulators Charge Two Traders for the 2008 Oil Spike

Link + Video

The Commodity Futures Trading Commission has recently accused two individuals for fixing the oil market back in 2008. And the theory goes that the big banking firms may be behind the action, using the two individuals as scapegoats in the scheme.

Is anyone surprised by this?

Thoughts?
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4 comments:

  1. MARKMay 25, 2011 at 2:25 PM

    The link did not work:

    http://finance.yahoo.com/blogs/daily-ticker/better-never-regulators-charge-two-traders-2008-oil-150011941.html

    ReplyDelete
  2. Dane CareyMay 25, 2011 at 7:08 PM

    Wow, it's nice to see that the are charging these guys 2-3 years after the fact (this might seem sarcastic, but it's not). I am impressed that they pursue them.

    Looking elsewhere, I would not be surprised to see if some people are eventually charged with spreading rumors in the Lehman Bros. collapse...I think the short-selling and liquidity rumors really hurt Lehman.

    ReplyDelete
  3. EMeisheMay 28, 2011 at 3:11 PM

    I agree with Dane, better late than never. They are probably being used as scapegoats but that doesn't mean they didn't do anything wrong. The problem goes deeper than these guys but at least its a sign of intent from the CFTC.

    ReplyDelete
  4. MattMay 29, 2011 at 2:52 PM

    It's good to see these guys get charged for their actions. I would not be surprised to see more people charged with similar cases in the near future.

    ReplyDelete

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