Bankers' Games: Manipulation and 'Litigation' | Janet Tavakoli
Price manipulation is a time-honored tradition in structured finance. There will be abuse anytime there is a price "fixing" or a price set on the basis of a trade.
Instances of abuse are the dragons that "regulators" are supposed to constantly slay. When regulators are too slow, unwilling, or unable to do the job -- and if you haven't been paying attention, regulators have been all three for decades -- market professionals take matters into their own hands.