Speaking of options expirations, a small fry at Barclays was tossed over to the FSA when he went out of his way to cheat a large and presumably important customer on an options position. You may read about it here.
Manipulation of the precious metals markets is often as blatant and obvious as what this junior joker from Barclays did. One can see it on the tape, but the omerta that surrounds the scams in the world of crony capitalism generally prevails, and nothing comes of it unless a 'very serious player' is harmed.
There are laws, and then there are the real, unwritten rules, and it is getting more blatant as nothing is done about it. It stops being an outlier and becomes 'accepted.' That is what is called moral hazard. And it is corrosive to markets and to government.
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