One of the largest financial scams going on, and nobody seems to know or care.

[ClitSoother]

Absolutely mindboggling.

http://current.com/shows/viewpoint/v...ind-libor-scam

[deviousdave]

.

[RandyKnight]

Originally Posted by ClitSoother

Absolutely mindboggling.

http://current.com/shows/viewpoint/v...ind-libor-scam

I posted about it in one of the political threads a few days ago...

The few here that want to discuss the Banksters and Fraudsters do not understand the markets very well...

Very few in the US understand what LIBOR is or does although your credit card, maybe a house mortgage, car loan and retirement income are tied to it.

Barclay's and Bob Diamond their CEO are just the tip of the iceberg....as many as 9 more big banks are tied to it in Europe and USA. The Banks are still fucking us over.

If I run across my other posts I will move them here...

[RandyKnight]

The video posted if worth your time to watch....here is what is writen about it on that link.

“Viewpoint” host Eliot Spitzer, Matt Taibbi, Rolling Stone contributing editor, and Dennis Kelleher, president and CEO of Better Markets, analyze the Libor interest rate–rigging scandal engulfing the banking industry.


Barclays CEO Bob Diamond recently resigned after the bank was fined $453 million for its part in the scandal, which involved manipulating the London Interbank Offered Rate (Libor), a key global benchmark for interest rates, by essentially “faking their credit scores,” according to Taibbi. And as Taibbi explains, Barclays couldn’t have acted alone.


“It can’t just be Barclays and the Royal Bank of Scotland. In fact, it can’t even be four banks or even five banks,” he says. “Really, in the end it’s probably going to come out that it’s going to be all of them … involved in this. And that’s what’s critical for people to understand: that this is a cartel-style corruption.”


Kelleher argues that the Libor scandal is proof that the financial industry “is corrupt and rotten to its core.” “The same executives [using] the same business model that crashed the entire financial system in ’08 are still running these banks,” he says.

[RandyKnight]

http://forum.xnxx.com/newreply.php?d...te=1&p=5192696

Originally Posted by RandyKnight

Yeah well they seemed to over look a total financial and banking crash that they still are not doing anything about and the shit is still going on...

JP Morgan may lose 9 billion now?

The new scandal in England with the bankers fixing the Libor rate was going on as far back as 2007...
2 Barclays bank top guys are gone...maybe more...

[stumbler]

I haven't seen much about this on the mainstream news but at least some parts of the internet are screaming this is a very huge deal and what's been revealed before is simple the tip of the iceberg.

[LatinaLisha]

Holy Shit !

[deviousdave]

Originally Posted by stumbler

I haven't seen much about this on the mainstream news but at least some parts of the internet are screaming this is a very huge deal and what's been revealed before is simple the tip of the iceberg.

It might be because Barclays have been centre to the scandal, but the UK media, particularly the news on television have talked about nothing else for the last week (except all the flooding)

[RandyKnight]

Originally Posted by stumbler

I haven't seen much about this on the mainstream news but at least some parts of the internet are screaming this is a very huge deal and what's been revealed before is simple the tip of the iceberg.

I have posted about it in two of your threads but you were to busy pissing on ACE to even acknowledge it.

If in the last 3 years we had spent some time in putting some of the fuckers in jail we might have a shot getting our financial system back in order.

The Grand Plan of the Rothschilds and Rockefeller and a few others are about to blow up in all of our faces.

[stumbler]

Originally Posted by RandyKnight

I have posted about it in two of your threads but you were to busy pissing on ACE to even acknowledge it.

If in the last 3 years we had spent some time in putting some of the fuckers in jail we might have a shot getting our financial system back in order.

The Grand Plan of the Rothschilds and Rockefeller and a few others are about to blow up in all of our faces.

I apologize because just reading this thread so far has been more educational and productive than any of my arguments with Ace.

And I agree with what you're saying but once again want congress to share the major portion of the blame because they don't even want to regulate bankers let alone prosecute them. Its more than just Obama. But who knows what he might do in his second term when he's got nothing to lose.

But please keep posting on this thread and I'll try not to derail it.

[stumbler]

Here's a New York Times Op-Ed on it but its more like Libor Dirty Laundry for beginners and doesn't really add much more information than what's already on this thread.

http://www.nytimes.com/2012/07/07/op...ndry.html?_r=1

[RandyKnight]

Originally Posted by stumbler

Here's a New York Times Op-Ed on it but its more like Libor Dirty Laundry for beginners and doesn't really add much more information than what's already on this thread.

http://www.nytimes.com/2012/07/07/op...ndry.html?_r=1

I had not read that article and that was a great piece to start and try to get an understanding of it. I already understand it.

I am just getting sick of all this.....I mean really some of these guys need to be doing time and what happens...Barclay's pays a 450 million fine to someone but hell they could have made 100 billion while they were pulling this shit.

One of the reasons we in the USA have not gotten upset yet is because fixing interest rates is legal here. Ben Bernanke does it with the Fed every 30 days. When you do not have free floating interest rates you DO NOT have a FREE MARKET. It is all fixed.

I just don't understand...some sells you fake drugs they end up getting shot or stabbed. Wall Street sells the world phony securities and the get a 20 million dollar bonus.

BTW...the CEO of Barclays that had to resign walks away with a good bye severance pay of 20 million bucks.

I don't expect people to understand as I do as I have spent 40 years in the finance world. But by God I I have gotten to the point when I meet new people I am ashamed to tell people I am a retired Investment Banker.

[stumbler]

Originally Posted by RandyKnight

I had not read that article and that was a great piece to start and try to get an understanding of it. I already understand it.

I am just getting sick of all this.....I mean really some of these guys need to be doing time and what happens...Barclay's pays a 450 million fine to someone but hell they could have made 100 billion while they were pulling this shit.

One of the reasons we in the USA have not gotten upset yet is because fixing interest rates is legal here. Ben Bernanke does it with the Fed every 30 days. When you do not have free floating interest rates you DO NOT have a FREE MARKET. It is all fixed.

I just don't understand...some sells you fake drugs they end up getting shot or stabbed. Wall Street sells the world phony securities and the get a 20 million dollar bonus.

BTW...the CEO of Barclays that had to resign walks away with a good bye severance pay of 20 million bucks.

I don't expect people to understand as I do as I have spent 40 years in the finance world. But by God I I have gotten to the point when I meet new people I am ashamed to tell people I am a retired Investment Banker.

No you're right about that. Here's a great example of our government's approach to "bankers." Here's what's supposed to be an investigation of JP Morgan's loss.

“You’re obviously renowned, rightfully so I think, as being one of the most, you know, one of the best CEOs in the country for financial institutions,” crooned Sen. Bob Corker (R-TN). “You missed this, it’s a blip on the radar screen.”

http://tpmdc.talkingpointsmemo.com/2...r-jpmorgan.php

[RandyKnight]

Originally Posted by stumbler

No you're right about that. Here's a great example of our government's approach to "bankers." Here's what's supposed to be an investigation of JP Morgan's loss.



http://tpmdc.talkingpointsmemo.com/2...r-jpmorgan.php

i watched both the House and Senate Committees of those hearings live and it made me sick. Worst part is I really like Jamie Diamond and I had felt he was a fantastic CEO...just glad I sold all my JP Morgan stock right before that news broke because they had an 8 buck run up in price and my profit was to nice not to take it.

BREAKING NEWS...that blip on the radar screen 2 billion lost could end up being 9 billion....no one knows yet cause the bank has not gotten totally out of the trade yet......in these type of transactions there is always a party on the other side that is winning and they don't want to turn loose of it.

July 13 or 14 Diamond has to do a quarterly report and maybe we will all find out the true story. Never the les 9 billion will not bust JPM but is it a hint of things to come?....then this Libor thing hits....we are on a edge right now.


OK I just watched a doc on Frontline PBS and it is free on the web...

this link is to episode 4 which brings us to the current place

it is an hour long but is worth watching.....

http://www.pbs.org/wgbh/pages/frontline/money-power-wall-street/#d

Money Power and Wall Street

[richief]

It all comes down to deregulization, now is the time to bring back the regulations as it appears that these people cannot be trusted to run the money markets honestly.

[smcaaphd]

I must say, my Granny, gawd bless er soul, had the right idea as far as banks are concerned. She never trusted them - never owned a bank account, nor borrowed. Any spare money she had was stuffed under the mattress for safe keeping.

I can remember my dad trying to talk to her about the merits of having a bank account, and how she answered stubbornly, time and again, that 'they' were 'all a bunch of thieving bastards' (I'd never heard my Granny swear before this, so my mouth kinda dropped open when she said it).

Seems she may have been wise beyond her years - although she was in her 80's at the time, but mebbe she really did have a crystal ball and could see into the future

[albertjones6262]

The problem is the work that want another nickel on the hour and not the banks and ceo that making millions. As far as I concern the ceo's can shove their banks up their ass. Take your money out of the bank and pay cash.

[stumbler]

Originally Posted by RandyKnight

i watched both the House and Senate Committees of those hearings live and it made me sick. Worst part is I really like Jamie Diamond and I had felt he was a fantastic CEO...just glad I sold all my JP Morgan stock right before that news broke because they had an 8 buck run up in price and my profit was to nice not to take it.

BREAKING NEWS...that blip on the radar screen 2 billion lost could end up being 9 billion....no one knows yet cause the bank has not gotten totally out of the trade yet......in these type of transactions there is always a party on the other side that is winning and they don't want to turn loose of it.

July 13 or 14 Diamond has to do a quarterly report and maybe we will all find out the true story. Never the les 9 billion will not bust JPM but is it a hint of things to come?....then this Libor thing hits....we are on a edge right now.


OK I just watched a doc on Frontline PBS and it is free on the web...

this link is to episode 4 which brings us to the current place

it is an hour long but is worth watching.....

http://www.pbs.org/wgbh/pages/frontline/money-power-wall-street/#d

Money Power and Wall Street

I've always like Frontline and will try to bet the time to watch it because unlike some others I can understand that even if I don't have a penny in a bank the bankers are still costing me in a thousand other ways.

And I also have to admit this is out of my area of expertise so I'm depending on others to point out whats important.

[AZRIEL]

woody.jpg

[RandyKnight]

Here is another great video from Frontline...

Inside the Meltdown

Takes a hour to watch but if you really want to see what Obama had to step into this is the one to watch.

http://www.pbs.org/wgbh/pages/frontline/meltdown/view/


This shit happens again and hope everyone out there has a few thousand in the Mattress as SMC's Grannie suggests.....cause next time it all shuts down.....all plastic cards all ATMs...it will take about a week to put a new system in place.....

and guess what?....the banks are heading there again.

Timeline...it can happen at anytime in the next 5 years....

[imported__2355]

Originally Posted by RandyKnight

Timeline...it can happen at anytime in the next 5 years....

Actually the breakdown is likely to happen by the end of August due to the economic problem Spain is in. They are currently on the edge of default while trying to maintain a bond interest rate above 7%. That's totally unsustainable but no one will allow them to refinance at a lower (below 5%) rate.

In addition the market is still flooded with financial derivative bonds who's value was oversold to the tune of 1200% of global GDP. That means it would take 1200 years of current global economic output to pay them off. Which is utterly insane. But the banking and finance market is sitting on it still thinking they can come up with a way to actually get someone to buy the bill for those bonds at the full retail price instead of simply writing the debt off, because their shareholders would shoot them, skin them, roast them and eat them (not necessarily in that order) if they did.

The global economic system is balanced on a knife edge resting on a hair thin thread, held in the teeth of two gnats spanning Niagara Falls, and when (not if) Spain collapses it will take the whole house of cards down with it.

[RandyKnight]

Originally Posted by imported__2355

Actually the breakdown is likely to happen by the end of August due to the economic problem Spain is in. They are currently on the edge of default while trying to maintain a bond interest rate above 7%. That's totally unsustainable but no one will allow them to refinance at a lower (below 5%) rate.

In addition the market is still flooded with financial derivative bonds who's value was oversold to the tune of 1200% of global GDP. That means it would take 1200 years of current global economic output to pay them off. Which is utterly insane. But the banking and finance market is sitting on it still thinking they can come up with a way to actually get someone to buy the bill for those bonds at the full retail price instead of simply writing the debt off, because their shareholders would shoot them, skin them, roast them and eat them (not necessarily in that order) if they did.

The global economic system is balanced on a knife edge resting on a hair thin thread, held in the teeth of two gnats spanning Niagara Falls, and when (not if) Spain collapses it will take the whole house of cards down with it.

The reason I used 5 years is because the Fed and the ECU seem to be doing a good job of kicking the can down the road....I said we are on the edge...this report from JPM in a week or so might do it.

I am not sure Spain will bring the entire deal down but in my home I have cash, gold and guns....

We USA congress is not going to do anything until after the election and that puts so much shit up to be figured out in little time we may break ourselves instead of what we did to the EU breaking us...

GREAT POST !!

[RandyKnight]

Originally Posted by richief

It all comes down to deregulization, now is the time to bring back the regulations as it appears that these people cannot be trusted to run the money markets honestly.

BTW....the reason our Investment Banks are in London cause your fucking regulations suck.

If you noticed this thread is abour England as much as the USA.

[AZRIEL]

Originally Posted by stumbler

But please keep posting on this thread and I'll try not to derail it.

accepted challenge.png

[Druidoak]

What's one more scam? Scams in America are like an other dead baby in Africa. Don't mean shit. Americans don't give a shit, the scam money figures are so high that most Americans can not relate to them. So they don't care. 70" screen TV's they relate to, Football they relate to, Hummers they relate to. Why should main stream news report stuff that no one is going to watch or care about. Ratings are generated by Sports news and reporters(I use that term loosely) with big tits.

[Tightcuntlover]

Originally Posted by imported__2355

Actually the breakdown is likely to happen by the end of August due to the economic problem Spain is in. They are currently on the edge of default while trying to maintain a bond interest rate above 7%. That's totally unsustainable but no one will allow them to refinance at a lower (below 5%) rate.

In addition the market is still flooded with financial derivative bonds who's value was oversold to the tune of 1200% of global GDP. That means it would take 1200 years of current global economic output to pay them off. Which is utterly insane. But the banking and finance market is sitting on it still thinking they can come up with a way to actually get someone to buy the bill for those bonds at the full retail price instead of simply writing the debt off, because their shareholders would shoot them, skin them, roast them and eat them (not necessarily in that order) if they did.

The global economic system is balanced on a knife edge resting on a hair thin thread, held in the teeth of two gnats spanning Niagara Falls, and when (not if) Spain collapses it will take the whole house of cards down with it.

That's all very well put...and more accurate than most people can even dare to imagine,

[Tightcuntlover]

As it happens, just as a thought.....

if money makes the world go round...and the whole financial system is corrupt....

well....go figure!

[RandyKnight]

Originally Posted by Tightcuntlover

As it happens, just as a thought.....

if money makes the world go round...and the whole financial system is corrupt....

well....go figure!

"Love makes the World go around and Money greases the wheels."

[Tightcuntlover]

Originally Posted by RandyKnight

"Love makes the World go around and Money greases the wheels."

So...things will be as they should be when the wheels fall off then!

[AZRIEL]

[RandyKnight]

Originally Posted by AZRIEL

[RandyKnight]

Originally Posted by imported__2355

Actually the breakdown is likely to happen by the end of August due to the economic problem Spain is in. They are currently on the edge of default while trying to maintain a bond interest rate above 7%. That's totally unsustainable but no one will allow them to refinance at a lower (below 5%) rate.

In addition the market is still flooded with financial derivative bonds who's value was oversold to the tune of 1200% of global GDP. That means it would take 1200 years of current global economic output to pay them off. Which is utterly insane. But the banking and finance market is sitting on it still thinking they can come up with a way to actually get someone to buy the bill for those bonds at the full retail price instead of simply writing the debt off, because their shareholders would shoot them, skin them, roast them and eat them (not necessarily in that order) if they did.

The global economic system is balanced on a knife edge resting on a hair thin thread, held in the teeth of two gnats spanning Niagara Falls, and when (not if) Spain collapses it will take the whole house of cards down with it.

Originally Posted by RandyKnight

The reason I used 5 years is because the Fed and the ECU seem to be doing a good job of kicking the can down the road....I said we are on the edge...this report from JPM in a week or so might do it.

I am not sure Spain will bring the entire deal down but in my home I have cash, gold and guns....

We USA congress is not going to do anything until after the election and that puts so much shit up to be figured out in little time we may break ourselves instead of what we did to the EU breaking us...

GREAT POST !!

As I said these guys can "Kick the can down the road"

TODAY...


Spanish banks to get $37bn eurozone
bailout


Eurozone finance ministers agree to offer Madrid an initial $37bn by end of month to prop up stricken banking sector.

[Empress Lainie]

The real fallout for smart attorneys is class action suits against all banks and credit card companies for fraudulent interest rates. I can hardly wait to see it!

I closed accounts with Citibank and Chase in 2009, they refused to close them and continue to charge me interest at now $500 per month. They send me statements every month, and yet they also sold the accounts to collection agencies. Then the collections stupidly garbled my name.

[stumbler]

Here's a pretty in-depth story that's actually from Reuters. It still seems incredibly complicated to me but it must have been the worst kept "fixing" secret in the world.

Federal Reserve Of New York Proposed Reforms For Libor Issues In 2007 To 2008

* Questions over whether Fed did enough over Libor concerns

* May have known as early as August 2007 about flaws

* Geithner calendar included "Fixing LIBOR" meeting in 2008

* Fed says got anecdotal Barclays reports of Libor problems

* Fed says shared suggestions for reform with UK authorities

http://www.huffingtonpost.com/2012/0...n_1661268.html

[RandyKnight]

Originally Posted by stumbler

Here's a pretty in-depth story that's actually from Reuters. It still seems incredibly complicated to me but it must have been the worst kept "fixing" secret in the world.

Federal Reserve Of New York Proposed Reforms For Libor Issues In 2007 To 2008



http://www.huffingtonpost.com/2012/0...n_1661268.html

seems to go back to what I have been saying...there is no free market...it is fixed...

I wish Huffington post woud invest in a new server that is the worst site I ever go to and locks up my browser...

[RandyKnight]

the Face of OBAMA's Fatal Flaw, Mistake, Oversight



This man after getting caught for Tax Evasion somehow ends up being the Sec of Treasury of the USA

This man was the Head of the NY Fed that masterminded the Bank Bailouts

This is MY conclusion after much study of the never ending mess we are in that I came up with and it looks like it is finally being seen by the press....

--------------------------------------------------------------------------------

The NYTimes finally puts LIBOR on the frontpage

As big banks face the fallout from a global investigation into interest rate manipulation, American and British lawmakers are scrutinizing regulators who failed to take action that might have prevented years of illegal activity.


Politicians in both London and Washington are questioning whether regulators allowed banks to report false rates in the run-up to the 2008 financial crisis and afterward.


On Monday, Congress stepped into the fray, requesting information about the role of the Federal Reserve Bank of New York, according to people close to the matter.

On Monday, the oversight panel of the House Financial Services Committee sent a letter to the New York Fed seeking transcripts from at least a dozen phone calls in 2007 and 2008 between central bank officials and executives at Barclays.

Tim Geithner was the head of the Fed in NY during the time frame in question. It is hard for me to imagine that he didn’t know that LIBOR was being manipulated. We have already heard the panic defense, that if the true LIBOR rate was known, a financial apocalypse would have swiftly followed.

But it’s the aftermath of the manipulations when the panic had subsided that intrigue me.

Tim Geithner gave a lot of advice to Obama that was very friendly to bankers.

But he must have known that a couple of banks, like Citigroup, were insolvent. Yet instead of nationalizing those failed banks, we merely stress tested them, bought their toxic assets and bailed them out.

Much of our current unemployment woes and struggling economy can be traced back to those early days of the Obama administration when we saved the bankers and ignored everyone else’s needs.

There were many smart people who were in favor of being more aggressive with the bankers and making a strong case for a bigger fiscal stimulus package. They were ignored. You can blame the Republicans, if you are so inclined. But let’s remember that the Democrats were in charge in the first two years.

We can only speculate how they might have come together to push financial reforms and New Deal programs if we had only known how serious the situation was.

[stumbler]

Originally Posted by RandyKnight

the Face of OBAMA's Fatal Flaw, Mistake, Oversight



This man after getting caught for Tax Evasion somehow ends up being the Sec of Treasury of the USA

This man was the Head of the NY Fed that masterminded the Bank Bailouts

This is MY conclusion after much study of the never ending mess we are in that I came up with and it looks like it is finally being seen by the press....

--------------------------------------------------------------------------------

The NYTimes finally puts LIBOR on the frontpage

As big banks face the fallout from a global investigation into interest rate manipulation, American and British lawmakers are scrutinizing regulators who failed to take action that might have prevented years of illegal activity.


Politicians in both London and Washington are questioning whether regulators allowed banks to report false rates in the run-up to the 2008 financial crisis and afterward.


On Monday, Congress stepped into the fray, requesting information about the role of the Federal Reserve Bank of New York, according to people close to the matter.

On Monday, the oversight panel of the House Financial Services Committee sent a letter to the New York Fed seeking transcripts from at least a dozen phone calls in 2007 and 2008 between central bank officials and executives at Barclays.

Tim Geithner was the head of the Fed in NY during the time frame in question. It is hard for me to imagine that he didn’t know that LIBOR was being manipulated. We have already heard the panic defense, that if the true LIBOR rate was known, a financial apocalypse would have swiftly followed.

But it’s the aftermath of the manipulations when the panic had subsided that intrigue me.

Tim Geithner gave a lot of advice to Obama that was very friendly to bankers.

But he must have known that a couple of banks, like Citigroup, were insolvent. Yet instead of nationalizing those failed banks, we merely stress tested them, bought their toxic assets and bailed them out.

Much of our current unemployment woes and struggling economy can be traced back to those early days of the Obama administration when we saved the bankers and ignored everyone else’s needs.

There were many smart people who were in favor of being more aggressive with the bankers and making a strong case for a bigger fiscal stimulus package. They were ignored. You can blame the Republicans, if you are so inclined. But let’s remember that the Democrats were in charge in the first two years.

We can only speculate how they might have come together to push financial reforms and New Deal programs if we had only known how serious the situation was.

It would not hurt my feelings if Timothy Grinther took a fall over this. I think he's actually been protecting the worst of the lot and one of the reasons no one has been prosecuted. Maybe we should start with him.

[RandyKnight]

Originally Posted by stumbler

It would not hurt my feelings if Timothy Grinther took a fall over this. I think he's actually been protecting the worst of the lot and one of the reasons no one has been prosecuted. Maybe we should start with him.

I would like to see him led out of his office building in Hand cuffs...

I have been saying we have the FOX guarding the hen house...

and I have said way back Obama was duped into the wrong advisors

I just saw this not sure how I missed this

This seems to be another cover up while Pres of the NY Fed

[stumbler]

Originally Posted by RandyKnight

I would like to see him led out of his office building in Hand cuffs...

I have been saying we have the FOX guarding the hen house...

and I have said way back Obama was duped into the wrong advisors

I just saw this not sure how I missed this

This seems to be another cover up while Pres of the NY Fed

Actually I think President Obama had a different theory although probably just as misguided. But since Obama entered office while the economy was still in free fall and a financial collapse still very possible President Obama picked people like Grithner to reassure the financial sector and Wall Street that there would be no radical changes no reason to panic.

And at least that part seems to work. The Bankers remain fearless.

PS Here's the current headline on the Huffington Post

<h1>THE ROT SPREADS </h1>

[AZRIEL]

Originally Posted by stumbler

I also have to admit this is out of my area of expertise so I'm depending on others to point out whats important.

[RandyKnight]

Originally Posted by stumbler

Actually I think President Obama had a different theory although probably just as misguided. But since Obama entered office while the economy was still in free fall and a financial collapse still very possible President Obama picked people like Grithner to reassure the financial sector and Wall Street that there would be no radical changes no reason to panic.

And at least that part seems to work. The Bankers remain fearless.

PS Here's the current headline on the Huffington Post

<h1>THE ROT SPREADS </h1>

I think I also know why he did it but not sure he or anyone else how bad it was...

Here is the link to the full story you found...btw good find in the post before mine as you began to prove what I have been thinking...

http://in.reuters.com/article/2012/07/10/libor-fed-idINL2E8IA14120120710

[stumbler]

Originally Posted by RandyKnight

I think I also know why he did it but not sure he or anyone else how bad it was...

Here is the link to the full story you found...btw good find in the post before mine as you began to prove what I have been thinking...

http://in.reuters.com/article/2012/07/10/libor-fed-idINL2E8IA14120120710

There's still that huge difference in the amount of reporting and interest this story is generating in the UK and US. For all the apparent importance and wide spread corruption I'm not seeing a lot of mainstream reporting on it. At least not to the extent its being covered in the UK.

[RandyKnight]

Originally Posted by stumbler

There's still that huge difference in the amount of reporting and interest this story is generating in the UK and US. For all the apparent importance and wide spread corruption I'm not seeing a lot of mainstream reporting on it. At least not to the extent its being covered in the UK.

Well the story today is a commodity trading firm in the Midwest USA just went under and lost 200 million of their customers money...mainly farmers who hedge their crops...

The Pres of the firm committed suicide...

we will hear more about the other...

[RandyKnight]

You know if Obama really wants to cap this election...in about Sept he throws Geithner out says he ain't doing it wall street's way anymore...puts Volcker in and says he is fixing to clean house....

It has been a good day for me...I just picked up a few more thousand shorting the euro dollar...I an off to the Pub...

[Jolly_Roger]

Max Keiser is the man Keiser Report on RT.com . He's not scared to say it in real words.

[RandyKnight]

Originally Posted by Jolly_Roger

Max Keiser is the man Keiser Report on RT.com . He's not scared to say it in real words.

LOL...both of them act like idiots (just for show) but they are spot on...

here is the link if anyone cares to watch---funnny and informative..

http://rt.com/programs/keiser-report/

if you watch try #312

In this episode, Max Keiser and co-host Stacy Herbert discuss banksters robbing Central Banks and governments because that’s where the credit is. But the modern Central Bank robber uses his Tommy gun of choice – the derivative (along with the occasional ‘accidental transfer).’ In the second half of the show, Max talks to Ellen Brown about the European Stability Mechanism as a permanent bailout...

[RandyKnight]

So who else is being investigated?


Revelations about other banks have been trickling out over the past year:
· UBS previously made agreements to cooperate with several [21] international [30] investigations [31] in exchange for leniency on potential criminal charges.


· Citigroup was also a target of investigation. Earlier this year, it emerged [32] that a few traders at Citigroup and UBS tried to manipulate Libor rates for the Yen.


· The Times of London reported [33] that Royal Bank of Scotland could soon be hit with a fine of up to $150 million for related charges.


· Bank of America also reportedly received [34] a subpoena last year from regulators as part of the investigation. JPMorgan Chase, Credit Suisse, HSBC and others were also [35] on the Libor-setting panel during the period being investigated.


· Last fall, European regulators seized documents [36] from Deutsche Bank
and others regarding manipulation of the Euribor.


Private lawsuits over Libor are already underway. Last summer, Charles Schwab filed a suit [37] alleging anti-trust violations against many Libor-setting banks and at least one class action [38] has been filed alleging that Libor manipulation meant banks paid “unduly low interest rates to investors.”


http://www.propublica.org/article/beyond-barclays-laying-out-the-libor-investigations

[RandyKnight]

Originally Posted by RandyKnight

You know if Obama really wants to cap this election...in about Sept he throws Geithner out says he ain't doing it wall street's way anymore...puts Volcker in and says he is fixing to clean house....

It has been a good day for me...I just picked up a few more thousand shorting the euro dollar...I an off to the Pub...

Holy Shit I was fucking with some other stocks and miss a big drop today...

Fuck Me !!!! (this chart is interactive)

[ClitSoother]

I haven't logged into the forum in a bit, but I must say, the discussion going on is really good, informative reading and none of the flame war b.s that so often happens.

I'm no financial expert by any means, but I posted the video thinking that the shit is going to hit the fan sooner than later, and the general population has little to no say in the matter.

One cannot blame Obama for what's going on, as the seeds were sown before he took office, and this is a global thing at this point. Pandora's box appears to be opened, and now we have little choice but to await the repercussions of assholes that wanted to stuff their pockets at the expense of everyone else.

[beninabox]

Looks like it took a few days, but the story is starting to break over here.

http://marketday.msnbc.msn.com/_news...it-the-us?lite

You can almost see the lawyers starting to drool.

The fact that these assholes can just resign and walk away with millions in the bank is just plain fuckered. People should do hard time for this kind of fraud.