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Wednesday, September 28, 2016

World's Dumbest Traders At Credit Suisse

Considering the kid-gloves approach of the U.S. government to the financial industry, the question is begged: in a world where many banks are too big to fail, how dumb do you have to be to get convicted for criminal fraud as a trader? Jonathan Weil takes a stab at this one in his new column:

It’s a shame the television series “America’s Dumbest Criminals” went off the air more than a decade ago, because the cases of Salmaan Siddiqui, 36, and David Higgs, 42, would have provided wonderful fodder as an example of high finance gone feloniously brain-dead. Sure, their stories might not have the same mainstream appeal as, say, the video of a gun-wielding robber at a convenience store who wore a see-through plastic bag over his head as a disguise.