LIBOR Banking Scandal

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LIBOR Banking Scandal Deepens; Barclays Releases Damning Email, Implicates British Government

http://www.rollingstone.com/politics/bl ... z1zgVs4hxy

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http://en.wikipedia.org/wiki/Glass–Steagall_Act

The collapse of the global financial system is coming to a head whereby significant elite banking institutions and the wealthiest families have grouped together to call for a Glass-Steagall reform in the UK and the US. This opens the doors to a global Glass-Steagall Standard of banking worldwide.

This is Huge! This is History in the making! The once considered enemy of humanity (the powers that be) has turned a new leaf in policy that will spare civilization from sliding into a new dark age. From the US, what is needed is the Leadership from Demarcates and Republicans to rally in the Congress and reinstate the 1933 Glass-Steagall Act that was repealed in 1999 under the Clinton Administration by Alan Greenspan and Larry Summers and Company.

In the US, the only leading American promoting the reinstatement of the classical Glass-Steagall Act of 1933 -a measure taken by President Roosevelt to guide America out of the Great Depression of 1933 is none-other-than Lyndon H. LaRouche Jr. a world renowned Economist and American Patriot.

In this report we take up the recent speech given by Vladimir Putin on Russia's policy to continue cooperation with China and to extend that to Europe and the United States. We also take a look at the developments in Syria, the recent findings in the fast and furious trial as well as the latest on Glass-Steagall.

A specific grouping of the British oligarchy has sounded the trumpet loud and clear, Glass-Steagall NOW! Even though most Americans have yet to realize the effect of this historic shift or feel the weight of the opportunity presented, this tidal wave for Glass-Steagall has already reached our shores.

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Many Wall Street executives says wrongdoing is necessary: survey

Tue Jul 10, 2012 10:07am EDT

(Reuters) - If the ancient Greek philosopher Diogenes were to go out with his lantern in search of an honest man today, a survey of Wall Street executives on workplace conduct suggests he might have to look elsewhere.

A quarter of Wall Street executives see wrongdoing as a key to success, according to a survey by whistleblower law firm Labaton Sucharow released on Tuesday.

In a survey of 500 senior executives in the United States and the UK, 26 percent of respondents said they had observed or had firsthand knowledge of wrongdoing in the workplace, while 24 percent said they believed financial services professionals may need to engage in unethical or illegal conduct to be successful.

Sixteen percent of respondents said they would commit insider trading if they could get away with it, according to Labaton Sucharow. And 30 percent said their compensation plans created pressure to compromise ethical standards or violate the law.

"When misconduct is common and accepted by financial services professionals, the integrity of our entire financial system is at risk," Jordan Thomas, partner and chair of Labaton Sucharow's whistleblower representation practice, said in a statement.

The survey's release comes as the fallout from Barclays PLC's (BARC.L) Libor-rigging scandal continues and other banks including Citigroup Inc (C.N), HSBC Holdings PLC (HSBA.L), Royal Bank of Scotland Group PLC (RBS.L) and UBS AG (UBSN.VX) await the outcome of an industry-wide probe.

(Reporting By Lauren Tara LaCapra; Editing by Leslie Adler)

http://www.reuters.com/article/2012/07/ ... 6G20120710

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Modern economics

Jim Sinclair’s Commentary

I have a solution for the student loan problem. Securitize them and get a major rating agency to rate them as AAA. Then sell it all to pension funds, widows and orphans.

Problem solved.

You can always say nobody saw it coming. If the fine is $100,000,000 and the gross sales profits on sales are $5 billion it is great modern day business.

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Doug Casey on how to Hedge Against Political Risk in the Greater Depression



TDV: Jeff Berwick on the Superwealth Interviews with Max Borders

Jeff is interviewed by Max Borders on Superwealth Interviews on a number of topics

- Where the name Dollar Vigilante comes from
- Is it possible for the central banks to inflate us out of our financial problems
- What does a post fiat currency world look like
- How the market rewards and punishes speculators
- What policy changes would you make if you were king for a day?
- The best way to help the poor
- How subsidizing the poor creates more of it

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The Irish Sue the Banks

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Greece back on the Brink, IEA Projects US Oil Bonanza and Betting on a Grand Fiscal Bargain!

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What the fuck of european union is this when a bank, (IMF),
from the other side of the Atlantic ocean can rob your bank account in a european country.

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Sinclair - All Hell Is Breaking Loose After Cyprus Catastrophe


Today legendary trader Jim Sinclair told King World News that all hell is breaking loose after the Cyprus catastrophe. Sinclair, who’s father was business partners with another legendary trader, Jesse Livermore, had this to say in this extraordinary and exclusive KWN interview:

http://kingworldnews.com/kingworldnews/ ... rophe.html

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jim sinclair mindset

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Sinclair, Farage, Roberts - Cyprus May Dwarf 2008 Collapse

http://kingworldnews.com/kingworldnews/ ... lapse.html

Former US Treasury Official - Banks Move To Enslave Humanity

http://kingworldnews.com/kingworldnews/ ... anity.html

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Euro Crisis is Just Beginning, Global Collapse is Coming
The economic collapse that is coming will be global. What we're seeing in Europe is just the beginning.

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FRONTLINE investigates why Wall Street’s leaders have escaped prosecution for any fraud related to the sale of bad mortgages.

http://www.pbs.org/wgbh/pages/frontline/untouchables/

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EPISODE BREAKDOWN: On this episode of Breaking the Set, Abby Martin talks to BTS producer, Ameera David, about the mounting death toll stemming from increased violence in Iraq, as well as the rules the NSA is using to spy on Americans. Abby then talks to Karen Hudes, former senior executive at the World Bank, about her experience blowing the whistle on the high level corruption within the international financial system and how her story was censored. Abby then breaks down the grievances behind the Brazilian protests that have resulted in over one million people taking to the streets in over 100 cities. BTS wraps up the show with an interview with Michelle Cornette, Subject Matter Expert: Military Suicide at the Center for Deployment Psychology, about the factors contributing to the drastic rise of military suicides.

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After the scandal of Libor, a cartel of banks on the foreign exchange market

After the scandal of Libor, the news site Bloomberg reveals that the foreign exchange market would have been the target of bank speculation. For nearly twelve months, managers of European portfolio have continued to alert the Regulatory Authority of British markets, FCA, on the possible manipulation of the reference indicator of the value of currency rates WM / Reuters.

Automatically calculated based on the average volume of trade involving each of the currencies, the reference value is renewed every sixty seconds. When trade is insufficient, the WM / Reuters rate is determined from the average bid sales and purchases of foreign currency. This short period of time would be devoted to an intense game of speculation which engage traders. Objective: To increase or decrease the rate according to the orders they receive, while taking into account their own interests when acting as a dealer.

"This market is a real Wild West," admits James McGeehan, founder of FX Transparency LLC. Considered the least regulated, it is also the largest, where nearly $ 4.7 trillion each day are brewed Four banks dominate the foreign exchange market:. DBK Fnc Citigroup, Barclays Plc and UBS AG. Having declined to comment, their involvement is not yet fully proven. Yet some traders, on condition of anonymity, have begun to confirm the existence of these practices are in place for a decade and that are "harmful to society" by Tom Kirchmaier of the London School of Economics.

CFA plans to open an investigation to potential manipulation of interest rate on the foreign exchange market. Suspicions are such that the British authorities have also decided to sift through other indicators of value, including those relating to financial derivatives, but also those of crude oil markets and goods. It seems that once again, traders have decided not to do things by halves.

https://translate.googleusercontent.com ... CUJQsjefRQ

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Libor Scandal Resurfaces: Dutch Rabobank Set to be Fifth Bank to Be Heavily Fined

Rabobank Faces US$965M (£600m) Fine as Libor Scandal Resurfaces

By Jill Treanor, The Guardian – October 28, 2013

The Libor rigging scandal could be reignited on Tuesday when Dutch mutual Rabobank is expected to become the fifth financial institution to be hit with a huge fine for attempting to rig the benchmark interest rate.

The bank is thought to be facing fines of more than £600m from regulators on both sides of the Atlantic, who are continuing their investigations into alleged manipulation of the key interest rate.

London’s Financial Conduct Authority (FCA) and regulators in the US are thought to be poised to levy larger than expected penalties on Rabobank, a co-operative-style institution whose roots lie in financing agriculture and which escaped the financial crisis without a taxpayer bailout.

The bank has been warning that it faced a fine for Libor rigging since the summer when it revealed it had made a provision of an undisclosed sum in preparation for the regulatory action.

http://www.theguardian.com/business/201 ... resurfaces
http://truthseeker1313.com/2013/10/29/l ... ily-fined/