Forexmospherian
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still have this book published in 1999: electronic day traders secret, it is an interview of a few traders at the time, they all stress the point in market makers to fade and flip from one side to other with the intent to deceive, apparently they never got into trouble....
Its a difficult one - a bit like saying you are either pregnant or not pregnant - there's no grey area - but in Law there is loads of grey areas - eg
The UK speed limit on roads is a maximum of 70 mph
If I am cruising along on the M1 at at 73 mph - i am breaking the speed limit - but the Police etc - will ignore me
If I cruise at 85 mph - a police car might pull me over and say - either - Your being booked and penalty fine and 3 points on licence - or they might say - you are let off this time
If I am crusing and 88 - 95 mph - I will be booked and have to pay a fine etc etc
If i am cruising at 105 mph - booked and lose licence for a minimum 3 months etc etc - ie the punishment is more severe
If I am cruising at say 130 mph - bigger punishment etc etc and at over 150 mph - would lose licence for at least 3 years and might Prison or suspended sentence for say 6 or 12 months
Cruising at 160 mph - and not stopping etc etc - massive fines - lose licence for a year or more and even 6 months in the cells etc
Now with trading - If I cheat and make a few thousands etc - no problem really
If I cheat and make a few million - bigger issue - could be massive fine and charged for fraud etc etc
If I cheat and make $20 million plus - big trouble
If I cheat and make billions etc etc and also I am a bank - easy - I blame my computers - and just pay a fine - if I do get caught lol
Deutsche Banks latest fine is over 1.6 billion to US and UK authorities - I suppose a bit more that £60 fine for speeding to them - but how many employers are off to prison ???
The Law is like the Ritz Hotel - is available to all - but you need the money to be able to keep using and abusing it etc etc
To ask the Hound of Hounslow for a £5 million bail fee seems unbelievable for a start - the whole thing stinks - but then the whole financial world stinks - and I am a great believer in Capitalism and entrepreneurial way of life - but the law should apply to all - not for the select few to get away with it