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06-30-2012, 04:41 AM
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Loving Life!!!
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Join Date: Jul 2011
Location: Metro-Atlanta, Georgia, USA
Posts: 9,365
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U.S. Banks Face Criminal Probe Into Global Interest Rate-Fixing Scheme
A new nightmare on Wall Street? U.S. banks face criminal probe into global interest rate-fixing scheme as Barclays blows the whistle on America's financial giants
Some of America's top banks are set to be dragged into a major criminal investigation of a global interest rate-fixing scandal about to engulf some of Wall Street's biggest institutions.
It emerged tonight that Barclay had struck a deal of 'extraordinary co-operation' with regulators in Washington and London - potentially exposing collusion on interest rates among banks across the globe.
The bank admitted to manipulating key interest rates, increasing pressure on other banks to cooperate in a probe that could cost the financial industry billions of dollars.
The agreement came after coordinated investigations lasting years and is just the first in a series of potential cases against other financial firms, including HSBC, Citigroup and JPMorgan Chase.
Read more: http://www.dailymail.co.uk/news/arti...#ixzz1zFFCsGQc
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07-05-2012, 07:36 AM
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Loving Life!!!
Posts:9365
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Quote:
Originally Posted by PsychonautMIA
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Past time. Past due for all of this to come out. |
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07-06-2012, 07:18 AM
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On Sabbatical
Posts:9694
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This is awesome, maybe something will happen.....
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07-06-2012, 08:21 AM
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Chimps gonna chimp
Posts:1149
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Doubt it. Nobody seems to notice big stories anymore, hardly anyone in the u.s will recognize a scandal that is essentially global when it's coming from a UK bank
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07-06-2012, 08:56 AM
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On Sabbatical
Posts:9694
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Quote:
Originally Posted by PsychonautMIA
Doubt it. Nobody seems to notice big stories anymore, hardly anyone in the u.s will recognize a scandal that is essentially global when it's coming from a UK bank
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......As though it's not the guys cousins running the US banks into the ground in the same sorts of ways.
But, you're right.... |
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07-08-2012, 03:18 AM
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Chimps gonna chimp
Posts:1149
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It's a shame that nobody is paying attention to this Libel Scandal. Nobody can see it but we are basically watching the economy collapse. It's all too boring for people, all they want to see is the propagated media hype an incident when in reality this is as real as it gets. Who else wanna bet that the market will bust after the presidential election?
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07-08-2012, 03:40 AM
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Senior Moment
Posts:8261
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People only see what the media is told to show to them...
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07-10-2012, 04:42 PM
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Senior Member
Posts:1062
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Quote:
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Who else wanna bet that the market will bust after the presidential election?
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Market sure did bust after the last election. |
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07-12-2012, 03:20 PM
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Loving Life!!!
Posts:9365
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07-13-2012, 11:58 PM
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Chimps gonna chimp
Posts:1149
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More news:
http://www.huffingtonpost.com/2012/0...n_1671524.html
Quote:
The New York Federal Reserve on Friday released documents showing it knew banks were manipulating a key interest rate more than four years ago.
The documents, which date back to 2007, show that the Fed was fully aware that banks were lying about their borrowing costs when setting Libor, and chose to take no action against them.
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07-17-2012, 04:35 AM
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Financial Insiders: Wall Street’s Been Manipulating Libor for Decades...
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Senior Member
Posts:3955
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http://the2012scenario.com/2012/07/f...-going-global/
According to this story, the Federal Reserve was “worried” about possible Libor manipulations “15 years ago’. I’d say that was because they feared, even back then, that the role of the banks in such a major manipulation of the banking system would eventually lead back to their own manipulation of the entire world’s economic system.
Time to get out the pitchforks and torches I say!... 
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