Tuesday, April 28, 2015

The Trader as Scapegoat - NYTimes.com

The Trader as Scapegoat - NYTimes.com:

 "A BRITISH trader, Navinder Singh Sarao, is facing extradition to the United States. Federal prosecutors accuse him of having significantly contributed to the “flash crash” of May 6, 2010, in which major American stock markets plunged dramatically in a matter of minutes. Prosecutors also say that he manipulated prices on the Chicago Mercantile Exchange for years by “spoofing,” or placing orders that he intended to cancel before they were filled."

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