US builds criminal cases on rate fixing scandal

Discussion in 'Current Events' started by Truthmatters, Jul 15, 2012.

  1. Truthmatters
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    NYT: US builds criminal cases in rate-fixing - Business - US business - The New York Times - msnbc.com


    As regulators ramp up their global investigation into the manipulation of interest rates, the Justice Department has identified potential criminal wrongdoing by big banks and individuals at the center of the scandal.

    The department’s criminal division is building cases against several financial institutions and their employees, including traders at Barclays, the British bank, according to government officials close to the case who spoke on the condition of anonymity because the investigation is continuing. The authorities expect to file charges against at least one bank later this year, one of the officials said.

    The prospect of criminal cases is expected to rattle the banking world and provide a new impetus for financial institutions to settle with the authorities. The Justice Department investigation comes on top of private investor lawsuits and a sweeping regulatory inquiry led by the Commodity Futures Trading Commission. Collectively, the civil and criminal actions could cost the banking industry tens of billions of dollars.
     
  2. Katzndogz
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    When will Tim Geithner be arrested?
     
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  3. bigrebnc1775
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    That was not TM's intent for this thread and you know it, so stop it. :razz::tongue::eusa_whistle::lol:
     
  4. Truthmatters
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    why would they arrest Geithner?
     
  5. Truthmatters
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    my intent is to discuss the news.


    I am not surprised you dont want to discuss this news
     
  6. Katzndogz
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    Tim Geithner as head of the Federal Reserve did not participate in rate fixing, instead he offered his advice in covering it up to make sure US banks were able to be ensnared.

    News Article - Economia e Finanza con Bloomberg - Repubblica.it

    No matter what was done in England or any other part of Europe, US authorities can't do anything about it. These are matters for those countries and obama doesn't really rule the world no matter how he and other democrats dream he does.

    Tim Geithner drawn into Libor scandal - chicagotribune.com

    With Libor scandal threatening to migrate from London to Washington, pressure is growing on Geithner and other regulators to explain what they knew and when.

    On Thursday, several key Democratic senators called on the Justice Department to hold accountable bankers and regulators who failed to "stop wrongdoing that they knew, or should have known about."
     
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  7. Truthmatters
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    ummm, your articles dont say he did anything wrong you fool
     
  8. Full-Auto
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    Excellent question...............


    As I read the story this am, It occurred to me the biggest manipulator has been the fed.

    In fact as a direct result of his actions we pay higher prices for everything.
     
  9. Truthmatters
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    what did geihtner do that you want him arrested for?
     
  10. Full-Auto
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    QE for starters but we already know you lack the capacity for understanding monetary issues.
     

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