magisme Posted November 13, 2014 Share Posted November 13, 2014 British, American and Swiss regulators fined some of the world’s biggest banks a combined $4.25 billion on Wednesday for conspiring to manipulate the foreign currency markets, the latest setback for an industry facing increased scrutiny and mounting legal costs for its past sins. The fines come as regulators are increasingly targeting a business culture in the financial industry that they say encourages improper conduct by its employees. The banks could still face criminal charges in the matter. At issue is the approximately $5.3 trillion traded each day in foreign exchange – the world’s biggest financial market. The exchange rates are set daily, and traders at the big banks that are being fined, as well as other banks still under investigation, were accused of rigging the rates so that their own banks could profit. http://dealbook.nytimes.com/2014/11/12/british-and-u-s-regulators-fine-big-banks-3-16-billion-in-foreign-exchange-scandal/?hp&action=click&pgtype=Homepage&module=first-column-region®ion=top-news&WT.nav=top-news Quote Link to comment Share on other sites More sharing options...
chevelle Posted November 13, 2014 Share Posted November 13, 2014 They do the math and figure out if they can still make a profit even if they get fined. That $4.25 billion is pocket change. Quote Link to comment Share on other sites More sharing options...
downzy Posted November 13, 2014 Share Posted November 13, 2014 It's a sham and a shame. Really should be putting these guys behind bars. Apparently to get away with a crime it just has to be big enough nowadays. Quote Link to comment Share on other sites More sharing options...
bran Posted November 13, 2014 Share Posted November 13, 2014 too big to fail, too big to jailfucking sickening. Quote Link to comment Share on other sites More sharing options...
Rustycage Posted November 13, 2014 Share Posted November 13, 2014 Regulate Quote Link to comment Share on other sites More sharing options...
Len Cnut Posted November 13, 2014 Share Posted November 13, 2014 This looks like a job for....DUN DUNNA DUNNA DUN DAH...Brand Man!Only Brand man save us now, Lois! Quote Link to comment Share on other sites More sharing options...
magisme Posted November 13, 2014 Author Share Posted November 13, 2014 Everything comes to revolution eventually. Always too late. Quote Link to comment Share on other sites More sharing options...
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