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Tuesday Jan 25, 2005
Trade of the Year: Not So Much
But in keeping with the Boiler Room ethos, the "Trade of the Year" may have been illegal. The WSJ reports today that the principals are being investigated for market manipulation by BaFin. (Summary: Citicorp's bond desk, 11 billion Euros in sell orders on the Eurex. Chuck Prince's response, according to the WSJ: "'as far as we can tell' the trading wasn't illegal, but he characterized it as 'a completely knuckleheaded thing to do.'") Email This Post |
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