Comments on: The WSJ vs Christopher Pia http://blogs.reuters.com/felix-salmon/2010/08/20/the-wsj-vs-christopher-pia/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: randymiller http://blogs.reuters.com/felix-salmon/2010/08/20/the-wsj-vs-christopher-pia/comment-page-1/#comment-17551 Sun, 22 Aug 2010 20:49:42 +0000 http://blogs.reuters.com/felix-salmon/?p=5026#comment-17551 College basketball players have served serious prison time for point shaving where the only impact is the game was a little closer than it would have been.. Yet, when gamblers disrupt currency markets and commodity markets, you guys all yawn. What planet do you guys live on? This kind of manipulation has consequences for innocent people. Several times speculators have driven the price of natural gas through the roof, causing families and retirees to struggle to pay their utility bills. The commodities bubble of 2008 did serious damage to the livestock industry, and led to food riots across the world.

You guys do not live in a vacuum. Speculation has consequences for people who live in the real world, and you don’t seem to care.

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By: DavidMerkel http://blogs.reuters.com/felix-salmon/2010/08/20/the-wsj-vs-christopher-pia/comment-page-1/#comment-17534 Sat, 21 Aug 2010 06:06:59 +0000 http://blogs.reuters.com/felix-salmon/?p=5026#comment-17534 Probably knockout or knock-in options on the NZD trade. Funky stuff; stay away.

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By: MitchW http://blogs.reuters.com/felix-salmon/2010/08/20/the-wsj-vs-christopher-pia/comment-page-1/#comment-17521 Fri, 20 Aug 2010 17:07:51 +0000 http://blogs.reuters.com/felix-salmon/?p=5026#comment-17521 I suspect she meant 25 pips (.0025).

This strategy is known as “banging the close” and is illegal; any halfway competent legal department has repeatedly told its traders this.

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By: jdanielwright http://blogs.reuters.com/felix-salmon/2010/08/20/the-wsj-vs-christopher-pia/comment-page-1/#comment-17513 Fri, 20 Aug 2010 15:14:54 +0000 http://blogs.reuters.com/felix-salmon/?p=5026#comment-17513 I agree with your assessment of Pulliam’s degree of error in describing Pia’s NZD trade. I sincerely doubt that the President of Goldman Sachs has made a habit out of congratulating rival traders for making only $1 million in a trade at his own firm’s expense. Goldman makes so many bets, winning and losing on an incredible amount of financial fronts, that it would have to be either: 1.) a really large gain or 2.) a very ingenious trade on Pia’s part.

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