Bloomberg Law Brief: Trump Taxes and Trader Spoofing (Audio)

(Bloomberg) -- Edward McCaffery, a professor at the USC Gould School of Law, and Howard Abrams, a professor at the University of San Diego School of Law, discuss a New York Times article featuring Donald Trump's leaked tax returns for 1995, in which he claimed losses of over $900 million, which would have allowed him to avoid paying federal income taxes for up to 18 years. And Peter Henning, a professor at Wayne State University Law School, and Andrew Verstein, a professor at Wake Forest University, discuss Navinder Sign Sarao, the trader largely credited with causing the 2010 "flash crash," scaling up his fight against U.S. extradition before an appeal to the UK High Court next month, which, if he is sent to the U.S. to stand trial, could result in a 380 year prison sentence. The case is bringing to light several issues of how to prevent spoofing in international markets, which involves entering orders into the market with no intention of following through on them. They speak with Bloomberg Law host June Grasso on Bloomberg Radio's "Bloomberg Law."