Search Results for: barclays

UBS given immunity in precious metals manipulation probe

UBS precious metals manipulation

UBS Group AG won immunity from criminal fraud charges in a Justice Department investigation into misconduct in the trading of precious metals. The Swiss bank’s main UBS AG unit won’t be charged by the department’s criminal division for information the firm disclosed to prosecutors about precious-metals transactions, according to the …

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Six banks fined $5.8 billion for market rigging

Citi JPMorgan Barclays RBS UBS

Editor’s note: these banks made billions more from their crimes, let alone received billions of $ in bailouts which the tax payers funded. So will we receive this money? Will any of these bankers ever go to jail for their crimes? If you or I committed the crimes that these bankers are guilty of we would …

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Deutsche Bank fined a record $2.5bn for Libor rate-rigging

Deutsche Bank

German banking giant Deutsche Bank will pay a record $2.5 billion for rigging interest rates in a multi-bank conspiracy that undermined global financial markets, US and British authorities said Thursday. “Deutsche Bank secretly conspired with its competitors to rig the benchmark interest rates at the heart of the global financial …

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UK banks won’t survive another recession

Bank of England London

Former Bank of England governor Mervyn King has warned that British banks are too weak to weather another financial crisis, adding that government officials haven’t “got to the heart” of what went wrong in 2008. Speaking to BBC Radio 4 on Monday, King criticised current measures being taken by the …

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UBS fined for silver price manipulation

Precious metals silver

Switzerland’s regulator found “serious misconduct” by UBS employees in precious metals trading, particularly with silver, as part of its review of the bank’s foreign-exchange business. Electronic chats played a “key” role in the improper conduct in foreign exchange and precious metals trading, the Swiss Financial Market Supervisory Authority, or Finma, said in …

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British banker goes ‘American Psycho’ in Hong Kong

Rurik Jutting psycho

The excesses of 1980s New York investment banking as captured best (and with just a dose of hyperbole) by Bret Easton Ellis’s American Psycho may be long gone in the US, but they certainly are alive and well in other banking meccas, such as the one place where every financier …

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48 suspicious banking deaths

Mysterious banking deaths

Our advice is if JP Morgan offers you a job: politley decline. The list of top level bankers dying under suspicious circumstances has been growing rapidly in recent months. Whether these are genuine deaths or something more sinister one thing is for certain, banking is becoming one of the most dangerous industries to be involved in …

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Wall Street banks are still ‘too big to fail’

Bank of America

The biggest banks still don’t have adequate bankruptcy plans to avoid precipitating another economic crisis, said U.S. regulators. Eleven of the nation’s largest banks still do not have viable bankruptcy plans that would avoid causing widespread economic damage, U.S. regulators said Tuesday in a sweeping admonition of Wall Street’s giants. The Federal …

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UK’s top 4 banks under major investigation

Barclays bank

Barclays, Royal Bank of Scotland, HSBC and Lloyds may be forced to break up following a finance watchdog’s inquiry. The watchdog claims Britain’s banking sector is characterized by anti-competitiveness and a failure to meet ordinary citizens and small business’ needs. Outlining its proposals for a sweeping 18-month investigation into Britain’s …

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US military protecting international banking cartel

Bank of America

“My assessment is that 90% of the value of the US dollar comes from the US military.” — Former Assistant Housing Secretary Catherine Austin Fitts For decades, America has used its armed strength to enforce the use of the dollar as the world’s reserve currency, effectively making the US military …

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