By Jeffrey C. Williams
ISBN-10: 0511521960
ISBN-13: 9780511521966
ISBN-10: 0521063477
ISBN-13: 9780521063470
ISBN-10: 0521440289
ISBN-13: 9780521440288
The unparalleled upward push and fall in silver's cost in the course of 1979-80 led to fees of marketplace manipulation opposed to the quest brothers of Dallas, fees that ended in a long trial and a in charge verdict. during this e-book Jeffrey Williams, who used to be a professional witness within the genuine trial, specializes in the commercial research used on the trial, the connection of that evaluation to the lawyers' arguments, and its effectiveness prior to the jury. Manipulation on Trial attracts widely appropriate classes from this significant case. via a sequence of essays, it investigates the elusive definition of manipulation, the problems of studying statistical facts, the imprecision in calculating damages, and the risks brought while monetary research enters advanced litigation.
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Additional resources for Manipulation on Trial: Economic Analysis and the Hunt Silver Case
Example text
21 Even though the ITC had presented itself as having the financial backing of the many governments, the English courts ultimately ruled that sovereign immunity allowed the signatory countries to abrogate commercial contracts and debts. So much for the popular idea that an international agency would have an advantage in stockpiling commodities because of an impeccable credit rating. Why the Hunt silver case? 22 Actually, a great advantage of futures contracts is that they can be offset before delivery.
The investigation would focus on the killer's state of mind but would begin with the facts that the defendant fired a gun and someone died, an indisputably bad outcome. In a manipulation case, the trader's state of mind determines whether there was a harmful act, as if no one would have died had murder not been the shooter's intent. All witnesses must draw inferences to some extent. As Jones (1994) argues, the distinction between fact and opinion is itself a distinctive creation of the legal profession.
Government's cessation of day-to-day control in 1968 had two consequences relevant to events in 1979-1980. S. S. S. 5 million troy ounces in the National Defense Stockpile. For several years, the managers of the stockpile had recommended disposal of the silver. 24 Manipulation on trial ers, from where they could reappear in commercial channels. As with other commodities, the two silver futures markets intertwined with what is known as the physicals market. Those transacting there included the mines and refineries of scrap that provide silver bullion; the photography, electronics, and jewelry firms that use it; and the large-scale dealers in precious metals, who both buy and sell bullion and other forms of silver.
Manipulation on Trial: Economic Analysis and the Hunt Silver Case by Jeffrey C. Williams
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