• 06 Aug 2009 at 12:30 PM

FTC Announces Three Month Free For All

By Greg Michaels

Trader.jpgIf you’re in the business of oil market manipulation, the FTC wants you to know that you have a 3 month grace period to get all of the gaming juices out of your system before your costs of doing business go up. Starting November 4th, if you fall into one of the FTC’s new booby traps, they’ll come after you for up to $1 million/day.

“This new rule will allow us to crack down on fraud and manipulation that can drive up prices at the pump,” FTC Chairman Jon Leibowitz said in a written statement. “We will police the oil markets — and if we find companies that are manipulating the markets, we will go after them.”

So the message is clear- if you’re trying to get into the oil market manipulation game, you’ve got one quarter’s worth of penalty-free trial and error time; after that, you better be right.

Comments (17)

  1. 1
    Posted by guest | August 6, 2009 at 12:39 PM

    Please. Three months is more than enough time for these guys to find ways around your feeble rules and reforms.
    It is like a third grader trying to monitor and college sophmore.

  2. 2
    Posted by guest | August 6, 2009 at 12:43 PM

    id rather watch cnbc than peruse DB today

  3. 3
    Posted by guest | August 6, 2009 at 12:48 PM

    Awesome! Now, lets start enforcing this new law against all the morons who have been screaming “Peak Oil” for the last 20 years.

  4. 4
    Posted by guest | August 6, 2009 at 12:49 PM

    Is Becky Quick single?

  5. 5
    Posted by guest | August 6, 2009 at 12:52 PM

    @4-
    No, she married on of the producers from CNBC. Supposedly, while they were dating, he was in the control booth talking into her ear while she was on air and used to talk incredibly nasty to her while she was trying to concentrate on what she was doing on air.

  6. 6
    Posted by merkin capital partners | August 6, 2009 at 12:54 PM

    i really didn’t understand the full emptiness of my life until this week of DB.

  7. 7
    Posted by guest | August 6, 2009 at 1:10 PM

    @6 Kudos on the honesty. Hope you turn out like this guy:
    http://news.yahoo.com/s/ap/20090806/ap_on_re_us/us_health_club_shooting

  8. 8
    Posted by guest | August 6, 2009 at 1:11 PM

    @5 She was married at the time to. Ex must be a real chump. Had his girl jacked out from under him.

  9. 9
    Posted by guest | August 6, 2009 at 1:11 PM

    @5 She was married at the time to. Ex must be a real chump. Had his girl jacked out from under him.

  10. 10
    Posted by merkin capital partners | August 6, 2009 at 1:24 PM

    @7 and to think, i was proud of him when he told me he was going to slay some tail.

  11. 11
    Posted by guest | August 6, 2009 at 1:34 PM

    Greg, better than earlier today, however, still one error.
    In the first sentence, there should be a comma (,) b/e system and before. Currently, it’s a run-on sentence.
    -College Kid

  12. 12
    Posted by guest | August 6, 2009 at 1:39 PM

    I wish Becky would Quickly talk dirty in my ear.
    Sanchez

  13. 13
    Posted by guest | August 6, 2009 at 2:21 PM

    Just enough time for Do Dollins to start another fund.

  14. 14
    Posted by guest | August 6, 2009 at 2:27 PM

    Here’s your go-to guy for ways to deal with the coming oversight:
    http://www.dealbreaker.com/images/entries/freejeffskilling.jpg

  15. 15
    Posted by guest | August 6, 2009 at 2:47 PM

    Oil traders are smarter than any trader out there. Just ask one.

  16. 16
    Posted by guest | August 6, 2009 at 4:37 PM

    5 delivers.

  17. 17
    Posted by guest | August 6, 2009 at 5:19 PM

    more booby, less trap

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