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Is it illegal to corner the market on a product because you know someone else is going to need to buy it, so you can charge them a lot because they must buy fro
by RHSeeger 6y ago
Is it illegal to corner the market on a product because you know someone else is going to need to buy it, so you can charge them a lot because they must buy from you? It seems like what is being done is pretty much this; just for a large definition of "you".
- jeffbee 6y agoYes, it is broadly illegal to corner or attempt to corner any market, and the law directs the CFTC to step in and and void commodities contracts or take whatever other actions it deems appropriate when it finds that a market has been destabilized. See 7 USC 12a(9).
- RHSeeger 6y agoInteresting. Thanks for the pointer to the details, too.