If more traders followed suit, many of the giants would defer, or at least think twice, before indulging in these dishonest practices. The market is heavily manipulated by the banking, oil and pharmaceutical sectors. Everybody knows it but nobody does anything about it.
David Sheppard and Joshua Schneyer writing at Reuters:
Former BP trader sues firm, alleges market manipulation A former trader at BP has filed a lawsuit for breach of contract in which he alleges the British company's Houston-based unit, BP Energy Co, is attempting to manipulate the U.S. natural gas liquids market.
Drew Sickinger, who joined BP in Houston in 2009, said the company "created a pretext" for disciplining him late last year and then firing him earlier this month. He said he made $100 million for the company over the previous three years.
The complaint, filed Jan. 30 in Harris County, Texas, includes allegations by Sickinger that BP is trying to manipulate the natural gas liquids markets "by establishing a dominant and controlling position."
The lawsuit does not include facts describing the basis for those claims. Sickinger's lawyer, Raul Loya, said the allegations against BP could spur a government investigation, but he declined to offer further detail.
A BP spokesman denied the accusations in Sickinger's lawsuit......
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