We were ‘dangerously close’ to collapse of ‘entire system,’ says Interactive Brokers founder ahead of GameStop hearing
Mark DeCambre, 17 February 2021
That’s Thomas Peterffy, founder and chairman of Interactive Brokers Group Inc., detailing Wednesday on CNBC the dire situation in which the market stood in late January as individual investors on social-media platforms banded together to send a handful of heavily shorted stocks, including bricks-and-mortar videogame retailer GameStop Corp. GME, -11.43% and movie chain AMC Entertainment Holdings AMC, -0.72%, to sky-high levels, with shockwaves registering throughout the market.
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Currency trading scandals are the next big black eye for banks
Mark DeCambre, Jason Karaian
Quartz, 5 February 2014
These days, it doesn’t take much digging to find potentially scandalous behavior coursing through the world’s biggest banks. But the latest round of probes into currency trading are shaping up to be a real doozy.
Already more than 20 traders, which make money for their firms by betting on currencies’ shifting values, have left or been placed on leave by their employers. These banks and traders have not been accused of wrongdoing, but their departures send a message that something is amiss in currency trading.
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