British stock market trader arrested-fair or not?

[lil-minx92]

http://www.telegraph.co.uk/finance/financial-crime/11554471/British-Flash-Crash-trader-faces-20-years-in-US-jail-if-found-guilty.html

 

Can't help wondering why one bloke who made a load of money from his bedroom trading the stock market using allegedly illegal practices faces a lengthy prison term, when professional banks rig interest rates / money launder / knowingly aid tax evasion etc etc etc, and just fined. One rule for the big boys and another for everyone else?

[Vaati]

Of course it isn't fair! All of em should be banged up for it, not just one bloke! (yes he shouldn't have done it)

[The Joker]

It's like the Barings bank debacle, where Nick Leeson lost hundreds of millions of pounds . . . from people who already had billions stashed away.

 

What's the difference between this kid and the banksters who've ruined national economies through speculation and gambling?

 

Since you're asking, I think this kid deserves a bonus of at least 7 x his annual salary, all paid for by the taxpayer.

 

If we don't acknowledge his contribution to society, he might emigrate to another country and use his talents there instead.

[NorthernStar]

I'm sure he's guilty of something but as alisonmanic alluded to he's being made a patsy of so the bigger players never have to answer to their crimes.

 

The US appears to be losing it's collective marbles as it tries to come to terms with not being the number 1 economy anymore.

[mossdog]

It's like the Barings bank debacle, where Nick Leeson lost hundreds of millions of pounds . . . from people who already had billions stashed away.

 

What's the difference between this kid and the banksters who've ruined national economies through speculation and gambling?

 

Since you're asking, I think this kid deserves a bonus of at least 7 x his annual salary, all paid for by the taxpayer.

 

If we don't acknowledge his contribution to society, he might emigrate to another country and use his talents there instead.

.........agreed to a certain extent!,but c'mon we all speculate and gamble in various ways! and if we did not the banks would be out of business,just like the bookies and the lottery!

Banks lent money to people that should have known better,but got caught in a feeding frenzy!

[tzijlstra]

It's like the Barings bank debacle, where Nick Leeson lost hundreds of millions of pounds . . . from people who already had billions stashed away.

 

What's the difference between this kid and the banksters who've ruined national economies through speculation and gambling?

 

Since you're asking, I think this kid deserves a bonus of at least 7 x his annual salary, all paid for by the taxpayer.

 

If we don't acknowledge his contribution to society, he might emigrate to another country and use his talents there instead.

 

Funny you mention that, as it was the first step to the recent banking crisis. ABN AMRO buying the devalued stock of Barings is what triggered the then CEO to buy more bad debts (as their stock soared after acquiring the trash Leeson left), if it worked once, it would work again, right?).