UK trader arrested for May 2010 U.S. Stock market flash crash
- Thread starter just21
- Start date
You don't know this. Maybe his mother wanted to work. I highly doubt he wasn't prepared to help the family out given a tight knit family household.
Stop believing everything you read in the daily mail. It's garbage.
I understand where youre coming from.
Im just not buying it that his parents were content cleaning all the hours they can and living under Heathrow flight path - if they could have upgraded slightly. I could be wrong. There's no shame in that, but I imagine if most people had the chance to improve their lot they would. Hell move the extended family too down the road to Southall or somewhere? Open a corner shop and worked their own hours?
That is not the definition of flash crash, it doesn't have to go to near zero. A 10% drop in 15 minutes classifies as such...
My ass, who the fuck wants to be a janitor??? He didn't want to help the family, just look at their family car, you don't need the Daily Mail for that. He was a miser....
He couldn't buy a decent family car but had 2 million to invest in some computer game shit???
And now it looks like the family collected the bail for him?? Yeah, I want a son like him...
Irrelevant as he wasn't even trading during the actual "flash crash" period, anyway.
Right, because just if one has millions of dollars then they must automatically go out and buy new cars and houses. Unless you live with the family, you're simply jumping to conclusions - and dare I say lack an understanding of their specific culture. Maybe he was keeping the money from them and maybe he wasn't - but it's not as if the money was being used for any outwardly visible extravagant purposes regardless.
You seriously got a hard on for this guy - it's interesting.
When are people going to start asking questions about corruption and arbitrary enforcement of the law instead of calling Nav a loser or speculating about his personal/family life?
There is a guy at a well known Chicago trading company who is a big producer in the same league as Nav. The NYMEX business conduct committee recently found that "while an employee of a NYMEX member firm" he violated Rule 432 by spoofing in the Crude Oil futures contract. The same conduct that Nav stands accused of.
This gentleman is still employed, has been fined $75k and given a 2 week suspension (vacation time?) from CME. The CFTC aren't making a Federal case out of it. He likely isn't going to face an indictment or jail.
What is the lesson here? Spoofing is discouraged but not criminal if you're an employee of a politically connected Chicago firm but is criminal and worthy of extradition if you're an Asian lad in London trading your own account?
Nav didn't spend his money. He took a new tracksuit back to sports direct when a trade he was up on came back to even. A quiet, humble guy. What he earned, what he spent, and his relationship with his family are all none of our business.
There are bigger issues.
There is a guy at a well known Chicago trading company who is a big producer in the same league as Nav. The NYMEX business conduct committee recently found that "while an employee of a NYMEX member firm" he violated Rule 432 by spoofing in the Crude Oil futures contract. The same conduct that Nav stands accused of.
This gentleman is still employed, has been fined $75k and given a 2 week suspension (vacation time?) from CME. The CFTC aren't making a Federal case out of it. He likely isn't going to face an indictment or jail.
What is the lesson here? Spoofing is discouraged but not criminal if you're an employee of a politically connected Chicago firm but is criminal and worthy of extradition if you're an Asian lad in London trading your own account?
Yeah, and his parents get the same 24 hours every day to improve their lot as everyone else in the world.
Nav didn't spend his money. He took a new tracksuit back to sports direct when a trade he was up on came back to even. A quiet, humble guy. What he earned, what he spent, and his relationship with his family are all none of our business.
There are bigger issues.
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He lived with the family. And I didn't say he should have owned a Lamborghini, I said decent car and
the whole family had 1 beat up car. So yes, he sure didn't try to make their lifes
to be better.
People here say he was a genius, maybe so, but he was a farking moron too. Writing 100 emails and complaining when he was making 6-7 mill annually, what he wasn't even using? Most people would have given up after 95 emails (joke) but no, he had to keep complaining and putting a giant target on himself, meanwhile he was breaking the rules since spoofing is illegal.
Let's repeat it again: He was making very good money what wasn't even put to good use, by bending and breaking the rules (and he had been warned several times) and instead of keeping quiet, this idiot keeps complaining? How the fuck does that make sense? If that is not the definition of moron, I don't know what that is...
Seriously people, what is the point of making it rain, if you don't use it at all? He could have just worked for McDonalds and he wouldn't be in this trouble....
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So his parents didn't need monetary help when the grown up son could clearly afford it, but the son clearly needs money from the parents when he is in jail and needs to be bailed out? This is how family life works? I got it.
But you are right, let's not talk about him, how is the weather in your neck of the woods? Here it is sunny and 75...
Sure there are bigger issues, that is what the Politics section is for or you can start another thread complaining about the system. Look how much good that one did for Navao....