Melbourne Storm have been stripped of 2 premierships, 3 minor premierships, been fined many hundreds of thousands of dollars, and earn no points for this season. Why ? They have been fielding an illegal team for the past 4 years and had an UNFAIR ADVANTAGE. How is this kind of trading not unfair to Joe Public, as in the vast majority of traders? Seeing orders being placed ahead of other people (flash trading) and having sufficient time to act on that information for their own benefit and skim the cream. This exchange between two senators on CNBC last week on financial reform pretty much sums things up...
SEN. DODD: But we've been through an awful lot now. We've lost almost $11 trillion of household wealth in the last 17 or 18 months, seven million homes in foreclosure, eight and a half million jobs have been lost, retirement incomes have declined by 20 percent, housing values declined by 30 percent, this morning's news obviously about Goldman Sachs. Here we are 17 months after someone broke into our house, in effect, and robbed us; and we still haven't even changed the locks on the doors, and we need to get it done.
MR. GREGORY: Well, Senator Shelby, I mentioned this is high noon, you've got Democrats saying, "This is it. You're either with us or against us." OK?
