Sensing an opportunity in the scams that are breaking out everyday, leading stock market and speculative trading expert Jhunjhunwala recommends that Government allow speculative trading in scams. What this means to laymen is people can speculate what would be the next scam to break out, how much money it would involve and who would be the principal actors. A complex mathematical formula can then be used to price these speculations and then trade them.
“With scams, Government is losing so much money. People say that guilty should be punished and the money lost in these scandals should be recovered. But being a firm believer in markets, I feel the Government is losing even more money by allowing scams to break out without letting people make money out of it. Imagine if ’2G scam was speculatively traded back in 2009. So much money could have been made by the ordinary taxpayers today”, said Jhunjhunwala.
Citizen journalist Hrishikesh though believes this would amount to illegal betting and would ‘aid and abet’ scams and scamsters. “It can even result in scam-fixing where in the speculator and scamster collaborate”, says Hrishikesh. Jhujhunwala counters such arguments by saying treating speculative trading as betting would be condescending. He also dismissed, without further elaboration, the possibility of scam fixing as absurd.
