Big banks forced to pay fine after manipulating currency markets

• 05/16/2019 at 12:25 PM #98612
  jebus89

  • Barclays må betale 210 millioner euro
  • RBS må ut med 249 millioner euro
  • Citigroup 311 millioner euro
  • JP Morgan 229 millioner euro
  • MUFG 70 millioner euro

  “De fem bankene er dømt for å ha tatt del i to karteller som har drevet med valtuatrading i spotmarkedet for elleve valutaer, og valutahandlere fra bankene skal ha delt både sensitiv informasjon og planer for handler med hverandre. 

  De skal blant annet ha snakket med hverandre på ulike chatte-rom hos Bloomberg gjennom hele arbeidsdager.”

  Roughly translated:

  “The 5 banks are convicted for manipulating 11 currencies and currency-traders have shared information and plans together cross the banks. They where chatting all workday on different chat-rooms on Bloomberg (amongst other things)”

   

   

  Anyone else fucking pissed? lol

  Anyone actually surprised? 😛

  

  jebus89

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  05/16/2019 at 12:32 PM #98615
  robertogozzi

  No surprise.

  Bankers can be sued and fined for cheating while Chiefs of State, Prime Ministers  and Central Banks are NOT, despite they occasionally (well… a bit more than occasionally, I believe!) do this.

  Traders are (or should be) aware of this and act accordingly.

   

  

  robertogozzi

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  05/16/2019 at 12:45 PM #98617
  GraHal

  jebus89 wrote:

  Anyone actually surprised?

  NO!

  I’m sure the traders who got duped out of their funds will see none of the money paid in fines.

  It does explain some of the wild spikes (fakeouts) on currencies for seemingly no good reasons.

  What doesn’t kill you makes you stronger … maybe the Authorities will keep a closer eye on such extortion in future and so it augers betters for us traders from hereon?

  

  GraHal

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  05/16/2019 at 1:03 PM #98620
  jebus89

  Probably not, Grahal. This isnt the first time and im guessing it wont be the last time haha.

   

  Bastards lol. All the profits they made where from average joe and smaller players. I cant belive its not a bigger punishment here.

  

  jebus89

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