<story><title>An unemployed trader who became a $700M exile</title><url>https://www.bloomberg.com/news/articles/2020-10-06/the-unemployed-trader-who-became-a-700-million-cum-ex-exile</url></story><parent_chain></parent_chain><comment><author>mellosouls</author><text>&lt;i&gt;But in a series of recent interviews from his $4.5 million home in Dubai, Shah was unrepentant.&lt;p&gt;“Bankers don’t have morals,” the 50-year-old said on a video call. “Hedge-fund managers, and so on, they don’t have morals. I made the money legally.”
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“Prove that any law was broken,” Shah said. “Prove that there was fraud. The legal system allowed it.”&lt;/i&gt;&lt;p&gt;At least he&amp;#x27;s honest in his contempt for normal ethical mores - there&amp;#x27;s none of the vacillating bull we associate with PR from say, big corporate tax dodgers.&lt;p&gt;Naive, idealistic me has often wondered how possible an abstract law of last resort for prosecuting people who exploit loopholes in what a jury of their peers would consider to be an unethical way; but I guess it would be to open to abuse by dodgy governments and other entities and presumably not compatible with a democratic legal system.</text></comment>
<story><title>An unemployed trader who became a $700M exile</title><url>https://www.bloomberg.com/news/articles/2020-10-06/the-unemployed-trader-who-became-a-700-million-cum-ex-exile</url></story><parent_chain></parent_chain><comment><author>ackbar03</author><text>I used to work in trading. Honestly a very large portion of the markets trading type business for investment banks is really just taking advantage one way or another of these kind of regulatory loopholes, not as blatantly as this maybe but some still very questionable. That and ripping off clueless corporate clients with bid-ask spreads. Some traders are still able to convince themselves it&amp;#x27;s cause theyre some sort of market wizard though cause tbh most of these people aren&amp;#x27;t that bright. Any other finance guys can correct me if I&amp;#x27;m wrong, it could be just because my experience had been working with teams that I was never too impressed with</text></comment>