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by floxy 1970 days ago
Would lying not be a crime here? Maybe not if the position was all from their personal accounts. But wouldn't it be a problem if you were trading other people's money, and you ended up on the losing end, wouldn't you have problems with lawsuits from your clients, saying they were duped, and they would have pulled their money out, if not for this lie? (Or something similar)
1 comments

Lying is a crime, but as we all know the punishment from the SEC and other regulatory agencies is usually a small "fine" that actually never prevents bad behavior. For many Wall street types, paying fines is literally part of the cost of doing business.

Its better for a business to be in court and pay fines then to be broke and bankrupt.