Regulators in the US, UK, and Switzerland have levied fines on banks for rigging benchmarks used by fund managers to determine what they pay for foreign currency in the foreign exchange (forex) market. The fines add up to $4.3 billion in total so far – not exactly a heavy hit on the Too Big To Fail banks. Not even much of a disincentive to not do it again.
|By: DSWright Wednesday November 12, 2014 9:02 am|
|By: DSWright Friday June 14, 2013 1:09 pm|
In case you forgot your bankster overlords – free of fear thanks to Obama, Holder, and the NSA – are continuing to rig markets, here is yet another scandal. Wall Street has gone beyond rigging LIBOR, Swaps, and the Oil market to include the currency market.