Masters of the Universe once again caught rigging the game

[Slimprofits]

http://www.bloomberg.com/news/2014-0...d-options.html

By Keri Geiger and Silla Brush Mar 10, 2014 7:17 AM ET

The U.S. Securities and Exchange Commission is investigating whether currency traders at the world’s biggest banks distorted prices for options and exchange-traded funds by rigging benchmark foreign-exchange rates, according to two people with knowledge of the matter.

http://www.theguardian.com/business/...ank-of-england

Mark Carney has been forced to admit that allegations of rigging in foreign exchange markets could prove be a bigger scandal than the manipulation of Libor as he sought to rebuff criticism that the Bank of England had been slow to react.

oh and this tidbit:

Tyrie was visibly shocked when questions about MPC (Monetary Policy Committee) discussions led to the revelation that recordings of the monthly meetings were destroyed once they had been turned into redacted minutes.

He argued that recordings were of significant historical value, as seen in the US where the Federal Reserve's open market committee publishes full transcripts with a long time lag. He was reluctant to accept Fisher's explanation that previous attempts to transcribe meetings had failed. "Is that because you are all shouting and throwing things at one another? Most organisations manage to transcribe a record, even the House of Commons manages to do it on a good day."

[Forrest]

Re: Masters of the Universe once again caught rigging the game

Why is it that all this criminal activity is now just another headline?

I am out of outrage.

[Slimprofits]

Re: Masters of the Universe once again caught rigging the game

Because most of what makes up the "news" is voyeurism, the weather, games (sports) and other such nonsense.

[thriftyandboringinohio]

Re: Masters of the Universe once again caught rigging the game

...I am out of outrage.

The bastards are counting on that.

[Forrest]

Re: Masters of the Universe once again caught rigging the game

The bastards are counting on that.

My dearth of energy inclines me to total dis-interest in the matter, but if I had energy, could I really do something? Dis-interest in blanket propaganda doesn't keep me from voting, but I don't really think it has made any real difference in the last twenty years...my vote is outweighed by angry progressives, and has been for quite some time. There really are no such thing as a non-progressive politician in California...just people who pretend to be so for a sound bite or two.

I have spent 52 of my 58 years in an increasingly socialist State. I have watched the progression, and do not see a regression. I cannot re-locate, so I continue to adapt to conditions on the ground.

I have always had great survival skills, so I know when to husband my energy, and slowly replenish it when no one is looking.

If I appear to be sleeping, look under my eyelashes....

[Slimprofits]

Re: Masters of the Universe once again caught rigging the game

http://www.usatoday.com/story/money/...bonus/6319613/

Firms had to deal with costly legal settlements, higher interest rates and an evolving regulatory environment, yet "Wall Street continues to demonstrate resilience," he says.

Oh woe is Wall Street. These firms and these bonuses would not exist if not for the complete and total backing of US taxpayers and other holders of the reserve currency. What a terrible thing to have to "deal with." Who can blame these poor, victimized souls for likening the current environment to Kristelnacht?

[ProdigyofZen]

Re: Masters of the Universe once again caught rigging the game

This coming from a country who just recently banned insider trading in 1980.........

[Slimprofits]

Re: Masters of the Universe once again caught rigging the game

Swiss Name 8 Banks in Forex Manipulation Probe

It cited the two largest Swiss banks, UBS and Credit Suisse, along with Zurich Cantonal Bank, Julius Baer and JP Morgan Chase, Citigroup, Barclays Bank and Royal Bank of Scotland Group. "There are indications that competition agreements for the manipulation of exchange rates have been made in Forex trading between banks," the commission known as WEKO said in a statement. The alleged coordination, it said, might include the exchange of confidential information, transactions with other market participants at agreed price levels and coordinated actions to influence a foreign exchange benchmark. "Based on the information currently available to the competition commission, authorities believe that the most important currencies are affected," WEKO said, adding that it "cannot exclude" other banks and brokers also may have been involved.

http://abcnews.go.com/International/...arket-23124655

[vinoveri]

Re: Masters of the Universe once again caught rigging the game

and in 6 months we'll read how the banks have made a deal to pay $30mil fine and stop doing it - of course they will start some other fraud, make $10Billion, get caught, wrist slapped and pay another $10mil fine, rinse repeat, classic organized crime racketeering; I don't even understand why this makes the news

[lektrode]

Re: Masters of the Universe once again caught rigging the game

and in 6 months we'll read how the banks have made a deal to pay $30mil fine and stop doing it - of course they will start some other fraud, make $10Billion, get caught, wrist slapped and pay another $10mil fine, rinse repeat, classic organized crime racketeering; I don't even understand why this makes the news

exactly!
for the past 5or6 years now we've seen exposer after exposer on all this and whats happened (or more accurately, whats NOT happened) ?

any other sort of criminal enterprise - from the most sophisticated down to the common street mugger/drug dealer - would've been prosecuted/bankrupted/jailed (never mind if infidelity/youth/looks and this kind of money was involved...)

but when THE party in power and their cheerleaders in the lamestream media are in cahoots all we get is....

[seobook]

Re: Masters of the Universe once again caught rigging the game

but when THE party in power and their cheerleaders in the lamestream media are in cahoots all we get is....

and so long as we believe & promote the left/right polarizing propaganda there's literally no solution to helping people achieve the American Dream without extremely corrupt (and profitable) market distortions supported by both parties

Both mainstream political parties should be branded as the banker's ___ party.

[Slimprofits]

Re: Masters of the Universe once again caught rigging the game

but when THE party in power and their cheerleaders in the lamestream media are in cahoots all we get is....

Has it still not occurred to you that Taibbi and Bill Moyers (whose exposes of Wall Street you're so fond of citing) would fit into the "left" side of your beloved Left/Right spectrum? How ironical.

[vt]

Re: Masters of the Universe once again caught rigging the game

I can't speak to Lextrode, but it's seems that he is an independent like myself. We both criticize both the left AND right, which upsets both sides who are used to only attacking each other. When independents call out BOTH radical wings on their fallacies it causes confusion like your comment.

As Shakesphere said: a pox on both your houses

Moderates in both parties are battling the radical wings within:

http://www.breitbart.com/Big-Governm...m-within-Party

[Slimprofits]

Re: Masters of the Universe once again caught rigging the game

Not confused, amused.

[lektrode]

Re: Masters of the Universe once again caught rigging the game

Has it still not occurred to you that Taibbi and Bill Moyers (whose exposes of Wall Street you're so fond of citing) would fit into the "left" side of your beloved Left/Right spectrum? How ironical.

slim - has it not occurred to YOU that taibbi and moyers are NOT interested in either sides ideologist propaganda?

so far, i havent detected anything more than their desire to call attention to that which the lamestream media has chosen to ignore (while most of the rest of em just focus on that which divides the left vs right, which = a win for the political-industrial complex, which then translates to profits that can be used to continue their charade (the lamestream medias) and put/keep more status quo maintainers in office - with the strings of power being pulled by lower manhattan's profiteers.. i mean... puppeteers...

The Real Problem in The US is the OUT OF CONTROL political-industrial complex - which, on both sides - is engineering the debate to revolve around which side is going to get more: the .gov-dependent vs the .gov-enabled

and its always MORE MORE MORE - mostly fueled by debt which fattens the bottom lines of lower manhattan's limosine liberal brigade

altho i tend to think one particular side is 51% more guilty, i'm certainly NOT defending the other.

I can't speak to Lextrode, but it's seems that he is an independent like myself. We both criticize both the left AND right, which upsets both sides who are used to only attacking each other. When independents call out BOTH radical wings on their fallacies it causes confusion like your comment.

As Shakesphere said: a pox on both your houses

Moderates in both parties are battling the radical wings within:

http://www.breitbart.com/Big-Governm...m-within-Party

and THEN theres whats happening in one of the bluest of the blue states -

and let me tell you something - when the voters there can bring themselves to buck the establishment, you best believe just how messed up the status quo has become...

sez this small-r type