Tom Hayes, Libor, and the Perks of Trading for Yourself
When big-bank scandals hit, someone always takes the fall. Here’s why independent traders should be grateful they answer to no one.
Be glad you’re an independent trader.
Because when things go wrong at the big desks…
Someone always gets thrown under the bus.
Tom Hayes did.
Ex-UBS and Citigroup trader.
Accused of rigging Libor.
Convicted. 14-year sentence. Maximum security prison. (Yeah, because clearly he was a public danger 
)
Anyway…
OVERTURNED
Last month, the UK Supreme Court overturned his conviction.
Said the jury had been misdirected.
Said the law wasn’t clear.
Said… he should never have been convicted in the first place.
He still served five years.
His career? Gone.
His name? Ruined.
And the industry he worked in?
Full of people doing the exact same thing… who got away clean.
So was he a criminal?
Or just the guy holding the bag when the music stopped?
Either way…
Another reminder why you should be grateful no one controls your P&L but you.
When things get tough, remember the prize:
No boss.
No politics.
And no getting thrown under a bus when the heat’s on.