He has over 8,000 followers at this point (see the image below).
We have only about 50.
Yep, you got it right: exposing dubious, legally questionable business practices of the trading marketplace can get you much fewer followers than actually committing a serious crime.
Rest assured that Big Mike and his sociopathic ilk know very well what they are doing. They are following the well-tested path to the riches at the expense of those who just don’t get that they are being used. Suckers.
Just like hundreds (if not thousands) of Barings Bank’s employees and their livelihoods were used by Nick Leeson so that, in the worst case scenario, he could launch his twisted post-trading career, by first writing a book about his trading shenanigans, and then becoming a sought-after conference speaker.
He is now so famous that he has a Wikipedia page and his Twitter followers outnumber the followers of some Nobel Prize laureates.
He is living a better life than millions of people who have never committed a crime, let alone as egregious as his. Yes, trading crime often pays off! That’s the moral from his story, folks.
If you don’t believe us, you can ask Michael Milken, who was sentenced for racketeering and securities fraud to 10 years in prison. Yet he served only 22 months! At Milken’s sentencing, Judge Kimba Wood told him: “You were willing to commit only crimes that were unlikely to be detected…. When a man of your power in the financial world… repeatedly conspires to violate, and violates, securities and tax business in order to achieve more power and wealth for himself… a significant prison term is required.”
Or you could have asked Marc Rich, who received Bill Clinton’s presidential pardon, of which Jimmy Carter, a fellow Democrat, and a former U.S. President, said that “I don’t think there is any doubt that some of the factors in his pardon were attributable to his large gifts. In my opinion, that was disgraceful.” In 2007, Marc Rich received an honorary doctorate from Bar Ilan University, Ramat Gan, Israel, so that no one would ever doubt that he was both “a gentleman and a scholar.”
Both extensive quotes come from Wikipedia pages for Milken and Rich.
Yes, Big Mikes of this world have definitely done their homework.
If you think that Big Mike or Harald Steinhaus have nothing in common with those three “scholars,” you are wrong. These fellows ended up in prison for precisely the same things we have accused Big Mike and his fellow sociopaths here: manipulation, conspiracy, and simply blatant lies. The only difference is that Big Mike has yet to serve his time. Since he is a reckless loser, it is probably only a matter of time. He probably knows it too, which may explain why these days he can so often be found in Ecuador rather than in Texas.
Let us also not forget that Big Mike was sued for running a smear campaign against a broker who was not allowed to respond to it and that he was publicly accused of extortion, things we have reported here in the past.
Nick Leeson now lives in Ireland, the country where he can surely count on plenty of moral support. From all those pedophile priests, that is.
The Big Mike Trading Forum mentioned or discussed here is now futuresio or futures.io. But it is still the same sham as before for the reasons mentioned here and in other posts on this blog. Read more about it in the first article dedicated specifically to Michael Boulter’s latest fraudulent reinvention.