The SEC never got a handle on this robotic manipulation of the market.
FORBES: Mary Schapiro's SEC Exit An Opening For Greater Reforms
The commodity laws were introduced as part of the New Deal to prevent the sort of market manipulation the country had seen in the 1930s.
Had the Dodd-Frank whistleblower provision been in place earlier, the fraud perpetrated by Bernard Madoff, the rampant subprime mortgage and securitization mess, and BP's alleged manipulation of the propane market, to name but a few events, might have been brought to light far sooner, perhaps preventing their worst effects while earning whistleblowers tens of millions of dollars.
Presidents have also on occasion performed the same act of modest market manipulation using the U.S. Strategic Petroleum Reserve with its 700 million barrels of oil stored on the Gulf coast of Texas and Louisiana.
When questioned about the SEC's knowledge of market manipulation, Cox told the panel he wasn't at liberty to discuss any pending SEC investigations.
In the past several days, lawmakers have begun to probe the possibility of market manipulation that might have led investors to flee Bear Stearns.
Gas market manipulation at the point of Russian valves makes life extremely difficult for any states looking to progress shale interests.
Evans, by the way, also had a history of SEC violations including insider trading and market manipulation which ultimately ended in a permanent injunction barring him from the securities industry.
C. didn't object to the Merc's interpretation of the rule, intended to prevent market manipulation, not keep out competition.
Mr Tucker said he was not aware of any Libor manipulation at the time, but now realised the Libor market was a "cesspit".
The U.S. Securities and Exchange Commission has promised trading halts, lawsuits and other probes in its efforts to curb manipulation in the penny stock market--and halt a tsunami of e-mails touting these questionable securities.
In fact, many of the cardinal sins of financial excess seem to be part-and-parcel of the ETF business these days: extreme leverage, market manipulation and tax bills that can blindside unsuspecting investors, to name a few.
News that a brash internet company, livedoor, was under investigation for market manipulation and accounting irregularities (see article) had sparked two days of widespread selling during which the benchmark Nikkei index and the broader Topix both fell by 5.7%.
Big Oil's manipulation of the system is preventing competition in the fuels marketplace, an activity that should be anathema in any free, competitive market.
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