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Another pair of traders, Sam Siegel and Vincent Kosuga, had more success cornering the onion futures market [1]. It caused such a crisis in the price of onions
by chongli 2y ago
Another pair of traders, Sam Siegel and Vincent Kosuga, had more success cornering the onion futures market [1]. It caused such a crisis in the price of onions (and significant onion spoilage) that Congress passed a law specifically banning the trade of onion futures contracts. One of the most bizarre trading stories and regulatory actions I’ve ever seen!
[1] https://en.wikipedia.org/wiki/Onion_Futures_Act?wprov=sfti1# https://en.wikipedia.org/wiki/Onion_Futures_Act?wprov=sfti1#