Bigger Than Libor? Forex Probe Hangs Over Banks!
- Anyone who thinks that the forex, commodities, precious metals, stock, bonds …. markets are not manipulated is naïve and highly gullible! Of course, they are! How do you think the Illuminati enforce their global hegemony? Countries which do not submit to their control will be destroyed via financial manipulations for eg. destroying their currencies!
– - The MSM will not tell you the truth: a Satanic cabal rules this world. These top banks manipulating the forex market are owned/controlled by the FIRM ie. the Illuminati!
– - Bigger than Libor? Forex probe hangs over banks!
by Virginia Harrison, http://money.cnn.com/
Yet another dark cloud is looming over global banks as officials examine their behavior in the massive foreign exchange market, threatening to deal a new blow to earnings and reputations.
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Regulators in the U.S., Europe and Asia are in the early stages of investigating whether traders at the world’s top banks manipulated foreign exchange benchmarks to profit at the expense of their clients.
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Goldman Sachs (GS, Fortune 500), Citigroup (C, Fortune 500), JP Morgan (JPM, Fortune 500), Deutsche Bank (DB), Barclays (BCS), Royal Bank of Scotland (RBS), UBS (UBS) and HSBC (HBCYF)are among the firms in their sights.
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Financial lawyers say the probe could have steep and uncertain consequences as the impact of currency market abuse would reverberate far beyond Wall Street.
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Related: European banks under fire in global forex probe
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It’s unwelcome timing for an industry already fighting a raft of legal battles over foreclosure abuses, misleading investors over mortgages and payment protection insurance. And then there’s the Libor scandal.
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A global investigation into the setting of the London interbank lending rate, and related global benchmarks, has so far yielded about $3.6 billion in fines. Penalties for some of the biggest players are still to come. Traders have also faced criminal charges.
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