He is hands down one of the best interviews whenever he is on.

If Whalen is right, then the lawyers for the MF Global customers are one-and-all incompetent.

Is this a situation where 'Legislation' is 'unlawfully' conflicting with and countering the 'Law'?

I think it is (in my honest opinion there has been a deliberate blinkering of the distinction between 'Legislation' and 'Law' going on with you, just like with us).

What does the Common Law say about fraud?

Because that is what is 'Supreme'.

Hmmm just had a quick look through Blackstone's, and it's rather interesting (even though I haven't got to what I was looking for yet - I'll add more if I get the time later):

PUBLIC WRONGS.
Book IV.
Ch. 12.

4. USURY, which is an unlawful contract upon the loan of money, to receive the fame again with exorbitant increafe. Of this alfo we had occafion to difcourfe at large in a former volume f. We there obferved that by ftatute 37 Hen. VIII. c. 9. the rate of intereft was fixed at 10 /. per cent. per annum: which the ftatute 13 Eliz. c. 8. confirms; and ordains, that all brokers fhall be guilty of a praemunire that tranfact any contracts for more, and the fecurities themfelves fhall be void. The ftatute 21 Jac. I. c. 17. reduced intereft to eight per cent; and, it having been lowered in 1650, during the ufurpation, to fix per cent, the fame reduction was re-enacted after the reftoration by ftatute 12 Car. II. c. 13. and, laftly, the ftatute 12 Ann. ft. 2. c. 16. has reduced it to five per cent. Wherefore not only all contracts for taking more are in themfelves totally void, but alfo the lender fhall forfeit treble the money borrowed. Alfo if any fcrivener or broker takes more than five fhillings per cent. procuration-money, or more than twelve-pence for making a bond, he fhall forfeit 20 /. with cofts, and fhall fuffer imprifonment for half a year.

5. CHEATING is another offence, more immediately againft public trade; as that cannot be carried on without a punctilious regard to common honefty, and faith between man and man. Hither therefore may be referred that prodigious multitude of ftatutes, which are made to prevent deceits in particular trades, and which are chiefly of ufe among the traders themfelves. For fo cautious has the legiflature been, and fo thoroughly abhors all indirect practices, that there is hardly a confiderable fraud incident to any branch of trade, but what is reftrained and punifhed by fome particular ftatute. The offence alfo of breaking the affife of bread, or the rules laid down by law, and particularly by ftatute 31 Geo. II. c. 29. and 3 Geo. III. c. 11. for afcertaining it's price in every given quantity, is reducible to this head of cheating: as is likewife in a peculiar manner the offence of felling by falfe weights and meafures; the ftandard of which fell under our confideration in a former volume g. The punifhment of bakers breaking the affife, was antiently to ftand in the pillory, by ftatute 51 Hen. III. ft. 6. and for brewers (by the fame act) to ftand in the tumbrel or dungcart h: which, as we learn from domefday book, was the punifhment for knavifh brewers in the city of Chefter fo early as the reign of Edward the confeffor. “Malam cervifiam faciens, in cathedra ponebatur ftercoris i.” But now the general punifhment for all frauds of this kind, if indicted (as they may be) at common law, is by fine and imprifonment: though the eafier and more ufual way is by levying on a fummary conviction, by diftrefs and fale, the forfeitures impofed by the feveral acts of parliament. Laftly, any deceitful practice, in cozening another by artful means, whether in matters of trade or otherwife, as by playing with falfe dice, or the like, is punifhable with fine, imprifonment, and pillory k. And by the ftatutes 33 Hen. VIII. c. 1. and 30 Geo. II. c. 24. if any man defrauds another of any valuable chattels by colour of any falfe token, counterfeit letter, or falfe pretence, or pawns or difpofes of another's goods without the confent to the owner, he fhall fuffer fuch punifhment by imprifonment, fine pillory, tranfportation, whipping, or other corporal pain, as the court fhall direct.

6. THE offence of foreftalling the market is alfo an offence againft public trade. This, which (as well as the two following) is alfo an offence at common law l, is defcribed by ftatute 5 & 6 Edw. VI. c. 14. to be the buying or contracting for any merchandize or victual coming in the way to market; or diffuading perfons from bringing their goods or provifions there; or perfuading them to enhance the price, when there: any of which practices make the market dearer to the fair trader.

7. REGRATING is defcribed by the fame ftatute to be the buying of corn, or other dead victual, in any market, and felling them again in the fame market, or within four miles of the place. For this alfo enhances the price of the provifions, as [e]very fucceffive feller muft have a fucceffive profit.

8. ENGROSSING, by the fame ftatute, is the getting into one's poffeffion, or buying up, of corn or other dead victuals, with intent to fell them again. This muft of courfe be injurious to the public, by putting it in the power of one or two rich men to raife the price of provifions at their own difcretion. "

{don't forget in 1765, the 'f' was often the long 's', but it doesn't take long to get in the swing of it}

<3 the strippers!