Alternative Thinking on Spoofing, Ackman’s Enemies, Bill Gross’ Bad Decade, and the New Illusion of Sin Stocks

“There’s going to be more of them. The CFTC has a new tool in its toolbox that it wasn’t sure worked. Now they know it works.”

It didn’t take a U.S. jury long to decide the fate of Michael Coscia under the 2010 Dodd-Frank Act’s spoofing law. Five years ago, the financial reform bill outlawed any attempt to manipulate prices by placing orders that were never intended to be traded upon.