4 ms·

So, the traders did something explicitly forbidden and didn't get penalized for it; that doesn't sound like being "kept in check" to me. Never mind those manip

So, the traders did something explicitly forbidden and didn't get penalized for it; that doesn't sound like being "kept in check" to me. Never mind those manipulations that make it through the regulatory filter, a la mortgage securitization circa 2008.

wpietri 5y ago
It was them getting kept in check, because they quickly corrected the behavior. And as far as I know, never repeated it. Explicit punishment is not the only way policing happens. Indeed, I think the most important parts happen well before that.