"currency traders used a private electronic chat room to manipulate exchange rates"

[RandomVariable]

What is this? Can I believe my eyes? The federal government protecting its citizens against corporate abuse? This is just the tip of the iceberg but absolutely: Score one for US Attorney General Loretta Lynch

Record fines for currency market fix - BBC News

Five of the world's largest banks are to pay fines totalling $5.7bn (£3.6bn) for charges including manipulating the foreign exchange market.

Four of the banks - JPMorgan, Barclays, Citigroup and RBS - have agreed to plead guilty to US criminal charges.

The fifth, UBS, will plead guilty to rigging benchmark interest rates.

Barclays was fined the most, $2.4bn, as it did not join other banks in November to settle investigations by UK, US and Swiss regulators.

Barclays is also sacking eight employees involved in the scheme.

US Attorney General Loretta Lynch said that "almost every day" for five years from 2007, currency traders used a private electronic chat room to manipulate exchange rates.

Their actions harmed "countless consumers, investors and institutions around the world", she said.

Separately, the Federal Reserve fined a sixth bank, Bank of America, $205m over foreign exchange-rigging. All the other banks were fined by both the Department of Justice and the Federal Reserve.

...​

 

[RandomVariable]

It is stuff like this why the Republicans are screaming, "The NSA is evil!" It's because the banks do not want their chat rooms monitored. They know good well the NSA really does not care about people's personal lives.

 

[Manonthestreet]

So nobody goes to jail again......banks laugh in your face while all continues as before.

 

[RandomVariable]

So nobody goes to jail again......banks laugh in your face while all continues as before.

I take this as a shot across the bow. "Clean it up."