Sat Mar 23, 2024 11:33 pm by globalturbo
Wall Street Rigging Currency Exchange Rates Too
June 15th, 2013
10 3 0 0 17
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.
Traders at some of the world’s biggest banks manipulated benchmark foreign-exchange rates used to set the value of trillions of dollars of investments, according to five dealers with knowledge of the practice.
Employees have been front-running client orders and rigging WM/Reuters rates by pushing through trades before and during the 60-second windows when the benchmarks are set, said the current and former traders, who requested anonymity because the practice is controversial. Dealers colluded with counterparts to boost chances of moving the rates, said two of the people, who worked in the industry for a total of more than 20 years.
http://ozhouse.org/2013/06/15/wall-street-rigging-currency-exchange-rates-too/
Thanks to: http://investmentwatchblog.com
June 15th, 2013
10 3 0 0 17
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.Traders at some of the world’s biggest banks
manipulated benchmark foreign-exchange rates used to set the value of trillions of dollars of investments, according to five dealers with knowledge of the practice.Employees have been front-running client orders and rigging WM/Reuters rates by pushing through trades before and during the 60-second windows when the benchmarks are set, said the current and former traders, who requested anonymity because the practice is controversial. Dealers colluded with counterparts to boost chances of moving the rates, said two of the people, who worked in the industry for a total of more than 20 years.
http://ozhouse.org/2013/06/15/wall-street-rigging-currency-exchange-rates-too/
Thanks to: http://investmentwatchblog.com
