Tag Archives: libor

Forex scandal: criminal bankers must be jailed, not fined

Six banks forex rigging scandal

Financial penalties expected to hit British banks for Forex rigging will do little to tackle financial crime in the City of London as regulators continue to prioritize high finance over ordinary citizens, experts warn. British banks could be fined billions in coming months as investors pursue them for rigging foreign …

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Ex-UBS & Citigroup trader jailed 14yrs for Libor manipulation

Tom Hayes Libor manipulation interest rate

A former UBS and Citigroup yen derivatives trader, Tom Hayes, has been sentenced to 14 years in jail after becoming the first person to be convicted by a jury of rigging the Libor interest rate. In a landmark case, 35yo Hayes was convicted of eight counts of conspiracy to defraud. Sentencing him at London’s Southwark crown court, Mr Justice …

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Deutsche Bank CEOs resign following Libor manipulation scandal

Juergen Fitschen Anshu Jain, co-CEOs of Deutsche Bank

The two joint chief executives of Deutsche Bank are to step down, in an unexpected move that comes shortly after the investment bank was fined for its role in Libor manipulation and criticised for its conduct. After an unscheduled meeting held by the bank’s supervisory board on Sunday, the German lender said …

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Fed Vice Chair says bankers should be punished for financial crimes

Federal Reserve Vice Chairman Stanley Fischer

Federal Reserve Vice Chairman Stanley Fischer said bankers who have engaged in wrongdoing should be punished, and he chided the industry for pushing back against financial regulations adopted to prevent another conflagration. “Individuals should be punished for any misconduct they personally engaged in,” Fischer said in a speech to bankers …

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Deutsche Bank fined a record $2.5bn for Libor rate-rigging

Deutsche Bank

German banking giant Deutsche Bank will pay a record $2.5 billion for rigging interest rates in a multi-bank conspiracy that undermined global financial markets, US and British authorities said Thursday. “Deutsche Bank secretly conspired with its competitors to rig the benchmark interest rates at the heart of the global financial …

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Banker pleads guilty to Libor manipulation

City of London

Editor’s note: These criminal bankers need to be jailed for life, no more cash settlements. Essentially they pay the settlements with the money they stole from the crime that they were convicted of or the bill is footed by shareholders of the bank. A senior banker from a British bank has admitted conspiracy …

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Barclays fined £26 million for manipulating price of gold for a decade

Barclays capital gold price rigging

It was almost inevitable: a week after we wrote “From Rothschild To Koch Industries: Meet The People Who “Fix” The Price Of Gold” and days after “Barclays’ Head Of Gold Trading, And Gold “Fixer”, Is Leaving The Bank“, earlier today the UK Financial Conduct Authority finally formalized what most in …

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London’s silver price fix to end after nearly 120 years

London city pic

Following a crackdown on precious metal manipulation by various European regulators (mostly Germany’s BaFin, recall “Precious Metals Manipulation Worse Than Libor Scandal, German Regulator Says“), which led to the shocking outcome that Deutsche Bank would pull out of the London gold and silver fixing committees, the London Silver Market Fixing …

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Lobbying scandal engulfs Bilderberg

Club Bilderberg

Secrecy at the Bilderberg conference – where corporate kingpins, government officials, and royals meet – is receiving renewed attention following the LIBOR scandal and a more recent one at the House of Lords. In the latter case, two members of the Labor Party, Brian Mackenzie and Jack Cunningham, and Ulster Unionist …

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The biggest price-fixing scandal ever


Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game. We found this …

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