U.S. Senator Jack Reed (D-RI) is a minority member of the US Senate Committee on Banking. Reed was elected to Senate in 1996 and has served three terms in the Rhode Island State. Reed earned a master’s degree in public policy from Harvard’s John F. Kennedy School of Government and received a law degree from Harvard Law School. He then became an attorney in private practice, first working as an associate with the law firm of Sutherland, Asbill, & Brennan before moving back to Providence and working for the firm of Edwards & Angell. Reed also served in the U.S. Army and taught economics and international relations as an Associate Professor within the Department of Social Sciences at West Point. He serves on the Appropriations Committee, and Subcommittee on Transportation, Housing, and Urban Development.
CFTC, 1 October 2019
The U.S. Commodity Futures Trading Commission today announced that civil enforcement actions were filed and simultaneously settled against two trading firms and one bank for violating the Commodity Exchange Act’s (CEA) prohibition on spoofing (bidding or offering with the intent to cancel the bid or offer before execution). These cases were brought in connection with the Division of Enforcement’s Spoofing Task Force.
“As these cases demonstrate, the CFTC is committed to preserving the integrity of our markets—like the financial and precious metals futures markets at issue here—and to rooting out unlawful practices like spoofing,” said CFTC Enforcement Director James McDonald. “We will continue to vigilantly investigate and prosecute misconduct by entities that spoof in our markets.”
Vice, 27 June 2012
Unfortunately, like many people out there, I don’t know my ass from my elbow when it comes to the economy. Sure I know a few terms like “recession” and “stock,” but ask me to explain stuff like the “Eurozone crisis” and I’ll get as far as “Apocalyptic omen.” That’s probably why businessmen can get away with pretty much anything; half of their concepts are so convoluted you need to have at least gave a shit about high school calculus to understand them, which most of us didn’t.