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joegibbs 3 hours ago

Why was the law against onion futures passed in the first place? Couldn’t the same scheme be done with garlic, or sweet potatoes, or turnips or something?

pjc50 13 minutes ago | parent | next [-]

Because American lawmakers are weirdly specific brainless creatures. This is how you get all those laws named after individuals like Megan, and my other specific fave, the Video Rental Records Privacy Act.

Shall we address the general question of privacy, or just close the particular breach that affected a congressman? You know it's going to be the latter.

chirau 3 hours ago | parent | prev | next [-]

Because Vincent Kosuga.

gostsamo 2 hours ago | parent | prev [-]

A guy cornered the market in the fifties, caused a scandal, they made a special exception.

joegibbs an hour ago | parent | next [-]

But what I’m saying is, why did they only cover onions? I don’t think there’s anything stopping someone from cornering the market in other commodities just as easily

weakened_malloc 36 minutes ago | parent [-]

Because the size of the market was/is so small that you're actually able to corner it. Oil or Treasury futures are far too big that no single person could ever corner it.

shawn_w an hour ago | parent | prev [-]

Two guys. At one point bags of onions were being sold for less than the value of the bags they were in...

They also got onion farmers to buy back onions they'd already sold.