I won’t mention his name, but is it possible that the person who said “Fraud” did us a favor?

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I won't credit him by further mentioning him by name, but it occurred to me that the recent "Fraud" comment could very easily backfire on the guy. Consider this:

  1. The fraud comment has been challenged very publicly and authoritatively, including a formal complaint of market abuse in Sweden – hopefully other complaints will follow. It is very clear to many people that he lacks a deep understanding of the transformation that is happening in his industry, but he is scared enough of it to go out on a limb. I know we all take that view here, but it is likely that 'normal' people will now see it this way too. Suddenly the Emperor has no clothes.

  2. The fact that JPM traders are trading it (acknowledged by Reuters) makes it look really bad for them. This smells badly, and you don't need a refined nose to smell it.

  3. Advertisers often say all publicity is good – even bad publicity.

submitted by /u/MadBanker01
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