You'd think US regulators would have enough hanky panky to worry about without making it their mission to enforce Canadian laws. But apparently not.
The Commodities Futures Trading Commission filed suit in US court today against Canada's biggest bank, RBC. They claim that RBC engaged in fishy futures trading in order to defraud the Canadian government of tax revenue.
Now I don't want to be a party pooper, but isn't all futures trading inherently fishy? I've written here and there about the killing somebody is going to make if they time the Iran war right when they're trading oil futures. Those 125 calls are going to create very wealthy traders when oil goes to 400 the day after an attack on Iran.
Economies will be ruined, tens of thousands will die, but a few lucky traders who got the timing right are going to walk away with 1,000% overnight profits?
Is that in any way "moral"?
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