To end cronyism we must end government's ability to dole out favors and rig the market.

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But the third answer is more brutal: to rig the market in some way.

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Even in natural resources, where it has been most active in dealmaking, it is not close to controlling enough supply to rig the market for most commodities.

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On the other hand, he has the commercial interests of the UK's banks and businesses to protect, and he fears that a more closely-knit eurozone would seek to rig the single market to the detriment of Britain.

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We have seen it in transactions where the bank was more worried about its own well-being than its clients and now we are seeing it in a case were a bank attempts to rig the entire market.

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In May 2011, UBS admitted that its employees had repeatedly conspired to rig bids in the municipal bond derivatives market.

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In the market's infancy, families would rig up small stands outside their homes and sell goods to one another.

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However, as Ken Hersh the CEO of NGP Energy Capital suggests, the market is in the process of realigning, as there has been a twenty percent correction in rig count (with more to go), which will tighten supply figures over the next 18-24 months.

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Mr Hayward, who resigned from BP in the wake of the 2010 Deepwater Horizon oil rig disaster, became a senior independent director of Glencore after the commodities group listed on the stock market in 2011.

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