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Notes -
I don’t disagree with your analysis. Though flow trader versus quant are fairly adjacent plus as you said he looks like a typical quant. The reason I mentioned libor is it’s a prime example of mixed regulatory messaging and then they ended up in jail.
I remember when Zerohedge use to run articles on things like some stocks were getting so many order messages the system was breaking. That does sound like purposefully manipulating markets to break the system for edge. I would assume there are plenty of things like that of quants pushing the line to gain an edge.
There were, in effect, two separate Libor-rigging scandals. There was no regulatory mixed messaging about the Libor-rigging-for-profit that Tom Hayes et al were engaged in - even if you accept the 2nd Circuit's argument that it wasn't fraud, it was clearly a violation of market norms about treating customers fairly. The regulatory mixed messaging was about Libor-rigging-to-prevent-bank-runs in 2008.
Still think that ties into his quant concerns. No doubt many push the line for edge. So same thing mixed message.
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