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Optiver charged with manipulating oil market

ratAphooey said: "Optiver has been charge with manipulating the oil market. I think this could be the first of many such cases and it should help push oil prices down."

rmani said: "link to article??"

newguy87 said: "I mentioned this in another thread of mine yesterday, this is no big deal and frankly can be expected. I mentioned a little while back just watch the government trot out some small fry schleps just to show they're doing something, it's just for show hardly anything. Whether it be insider trading, market manipulation, rumor mongering or what have you the problem is rampant with all the big investment banks, hedge funds etc... they'll just do some little thing like this for good PR that's about all, the problem will never be stopped or hardly enforced. The day you see them trot out Goldman Sachs is the day you know they're doing something, you have a better chance of winning the lotto. It goes on, realize it goes on and do your best to navigate the market and decipher what you think the big money guys are doing. It's not easy when your not an insider but that's the game you have to play."

ratAphooey said: "I think its a pretty big deal. This is probably just the tip of the market. Although you say they are small fries they still made one million dollars with their scam."

newguy87 said: "One million dollars to you or me may be a lot, but it's not even 1/2 a drop in the bucket for Wall Street."

ratAphooey said: "[QUOTE=newguy87;71831]One million dollars to you or me may be a lot, but it's not even 1/2 a drop in the bucket for Wall Street.[/QUOTE] I know what you mean but its still a big criminal offense. If you dont believe you go right ahead and steal one million from your employer. But I do agree that the scams of most wall street companies are in the many billions. :cornut:"

newguy87 said: "Yea unfortunately it's rampant. Say for example these guys even worked for Goldman, big hedge fund or what have you, I'd still say not a big deal. It's when they put the screws to these companies or funds and not just few nobodies (especially if they're from rinky dink companies) that you can say yea there doing something. But we know that's never gonna happen."