And banks, whose traders sometimes also bet on market moves, are no longer keen to do so.
Like Mr. Rajaratnam, Mr. Cohen ran a hedge fund whose traders were known for aggressively pumping corporate insiders for insights that might offer an edge.
Or as the firm whose traders were said to have misled investors by selling them, as one memorable internal e-mail described it, "junk that nobody was dumb enough to take first time around".
Not only was Nahr al-Bared the only camp spared in those dark times, it prospered afterwards as a de facto free zone whose traders undercut competition by evading Lebanese taxes.Yet if there was ever an accident waiting to happen, this is it.
Or as the firm whose traders were said to have misled investors by selling them, as one memorable internal e-mail described it, 'junk that nobody was dumb enough to take first time around.'".
So far, the scandal has been limited to Barclay's, a big London-based bank that just paid $453 million to U.S. and British bank regulators, whose top executives have been forced to resign, and whose traders' emails give a chilling picture of how easily they got their colleagues to rig interest rates in order to make big bucks.
Victor Jules Bergeron, whose Trader Vic's restaurants were a fixture of the Tiki-crazed 1950s and 1960s, attributed its creation to a "cleanly dressed Mexican lad, José," down in "the famed Tia Juana".
Though shy, he quickly showed he was a natural born trader "not a charts and research" trader but a visceral trader whose great instinct would benefit many people, for decades to come.
REUTERS Former Rochdale Trader Admits to Unauthorized Apple Trade | David Miller, the former Rochdale Securities trader whose purchase of about $1 billion of Apple stock led to the demise of his employer, pleaded guilty to wire fraud and conspiracy, Reuters reports.
They also believe that it would be no great loss if the tax drives away "high-frequency traders", ultra-fast automated traders whose margins are razor-thin.
Kingsley Napley represented Nicholas Leeson, the trader whose $1 billion in unauthorized losses at Barings caused the 1995 collapse of the bank.
