Do you understand that with this salary bidding based system people get exactly the same player with half the salary (for example). Getting all the players with half salary (bidding when everyone else has their players chosen already), creates a salary cap mismatch. This is a lot worse than the current system.
With 2 team you get 2 incomes and 2 salary caps. You can bid salarys for twise the amount you could with one team. Seeing a good deal and getting that player signed to your additional team and then trading that player to your original team for the same salary but worse player is how you use your system to cheat. Noone can even suspect you of cheating, as noone really knows what players are worth any more because of no stable salary formula.
As it comes to cheating now. Players themselves must keep an eye out for the cheaters. I think in Estonia we have rooted out most of the cheating teams. Occasionally some pop up again, but they are caught pretty quickly. As this is a relativly slow game, none really have the patientce to wait 5 seasons to start to cheat.
BB's have stated that daytrading is a part of this game. It's hard to do effectivly, but some manage to do it. Btw, listing high and fishing for a newbie bid is not daytrading. The only way to regulate this would be bigger fines. I have had a lot of teams in my bookmarks, that try to use the listing idiotically high tactic (you should be familiar with this tactic). Some teams even have their whole teams for sale all the time. Fishing for that one bad click. This also should be punishable by somekind of not sold tax. But that's another story altogether.