from Jesse’s Café Américain:
I am no legal expert, and therefore have no idea of the merits of this as a prospective case. The law involves things like intent, opportunity, evidentiary proof, and so forth. Apparently one can sue another entity for just about anything, but that does not mean that the case has any merit. And I certainly could not advance such a case based on even industry knowledge. That strikes to the heart of my own issue.
My primary concern is a lack of transparency. And that lack of transparency in these markets is not conducive to market efficiency. It allows for gaming the system, either occasionally or, as we have seen, systematically.
I cannot tell if these markets are manipulated because so much of what is being done is hidden. And it does not help that the CFTC conducted a five year long study into the subject, and then quietly killed it without ever having issued any information about their findings.
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