Bank of America Corp., Citigroup Inc. and Credit Suisse Group AG were among 16 of the world’s biggest banks sued by the U.S. Federal Deposit Insurance Corp. for allegedly manipulating the London interbank offered rate from 2007 to 2011.
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Bank of America Corp., Citigroup Inc. and Credit Suisse Group AG were among 16 of the world’s biggest banks sued by the U.S. Federal Deposit Insurance Corp. for allegedly manipulating the London interbank offered rate from 2007 to 2011. No comment yet.
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The average bonus paid to securities industry employees in New York City grew 15% last year to more than $164,000
OverSoul's insight:
Has anything changed on Wall Street? Hell no.
From
qz
As if there weren't enough reasons to cast a jaundiced eye on the banking system, Bloomberg reports that several international banks are now accused of manipulating a key benchmark, known as the gold fix, in the $20 trillion gold market. The charges of fixing gold prices in London are being leveled at Barclays, Deutsche Bank, ScotiaMocatta...
OverSoul's insight:
F.Y.I.
The individual, a London-based senior figure at one of the world's big international banks, was suspended in September but has not been formally accused of any wrongdoing.
OverSoul's insight:
F.Y.I.
Why are so many bankers being killed? What do they all have in common? Who is next on the list? Steve & V explain on The Hagmann & Hagmann Report.
OverSoul's insight:
Take a good long look at this video but, parents should take note: This video contains strong language (the audio portion is uncensored).
Certain oligarchs helped fuel the protests that toppled Yanukovych. Others have been targets, too. Most favor closer trade with Europe
OverSoul's insight:
F.Y.I.
Global banking giant HSBC was accused of 'soar-away boardroom greed' today as it revealed plans to swerve an EU cap on huge bonuses.
Read more: http://www.dailymail.co.uk/news/article-2566636/HSBC-accused-soar-away-boardroom-greed-pays-2-3billion-bonuses-reveals-plan-avoid-EU-cap-payouts.html#ixzz2uJKntTrD
Britain's biggest bank awards staff 'fixed pay allowances' to side-step restriction on bonuses imposed by Brussels Britain's biggest bank, HSBC, has inflamed the row over City pay by awarding allowances to more than a thousand of its top staff,...
A controversial trade deal being touted by the White House is expected to give American corporations broad new authority if approved. Now according to newly released documents, big banks gave millions to the execs that are now orchestrating the agreement.
OverSoul's insight:
F.Y.I.
Prosecutors are casting their net wider in the long-running Libor interest rate rigging investigation, revealing charges Monday against three former employees of Barclays.
With the world's most powerful finance ministers meeting in Sydney this weekend, the G20 is well placed to tackle the problem of multinational companies avoiding tax, writes Tom Allard.
OverSoul's insight:
The G20 is the perfect place to deal with a lot of problems, but the patrons of greed will undermine any efforts to end tax avoidance.
The Bank of England has launched a “full legal review” into claims that its officials gave tacit approval to collusion among foreign-exchange traders, now part of a major international investigation.
OverSoul's insight:
Lock up the guilty, throw away the keys and watch the victims cheer.
The U.K. markets regulator notified a bank manager and a rate submitter that they face penalties for their involvement in manipulating benchmark rates in the first civil cases against individuals in the global probe. |
China Cinda Asset Management has always been opaque. Even after its $2.5 billion initial public offering last year, questions persist as to how exactly the “bad bank” makes money on distressed assets.
From
wwlp
The owner and president of the Hallmark Institute of Photography in Conway pleaded guilty for using millions of company funds to pay for personal expenses.
OverSoul's insight:
F.Y.I.
Co-op Bank's boardroom review shows Paul Flowers was praised by fellow directors for his 'thorough preparation' The disgraced Methodist minister Paul Flowers was described as the "perfect choice" to lead the Co-operative Bank, according to a review...
From
ranther
The London gold fix, the benchmark used by miners, jewelers and central banks to value the metal, may have been manipulated for a decade by the banks setting it, researchers say.
OverSoul's insight:
F.Y.I.
From
qz
Citigroup can't seem to get out of its own way. The sprawling global banking giant finds itself once again ensnared in an international business scandal—this time in Mexico—which threatens to ding its bottom line. The latest problem for Citi, which could potentially deliver a blow to its reputation, centers on a Mexican fraud scandal that has...
British and American authorities investigating bad behavior at large banks have reached an uneasy truce.
OverSoul's insight:
F.Y.I.
Concerning the future of the Trans-Pacific Partnership (TPP), the president is expected to accelerate talks and negotiations to play import/export with other nations to ensure profits for rich countries and control one-third of global trade.
While the penalties wouldn’t set records, “these fines are unusually high and reflect the severity of the Libor scandal and the regulator’s view of the behavior that has taken place,” said Richard Burger, a regulatory lawyer in London.
Perk Hixon, a powerful New York investment banker, on Friday become the latest Wall Street high-flyer to crash into Manhattan US Attorney Preet Bharara’s sprawling insider-trading probe.
OverSoul's insight:
Voters have "zero tolerance" for well-heeled thieves, so this will come as good news to those who want to see more long sentences for the parasites of finance.
You might find your Prime membership morally indefensible after reading these stories about worker mistreatment
OverSoul's insight:
Boycott Amazon.com. We do, and you should too. Don't feed the beast that bites you without cause.
The Financial Conduct Authority, one of Britain’s financial regulators, has issued warnings to two individuals that it planned to charge them for misconduct related to the rigging of Libor.
Apple (finally) acknowledges its connection to illegal tin mining
OverSoul's insight:
If you didn't know, now you do. |
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