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> On Wednesday, in the latest clampdown, Citi, JP Morgan, RBS and Barclays > pleaded guilty to conspiring to manipulate the price of dollars and euros, > wi
by legerdemain 4y ago
> On Wednesday, in the latest clampdown, Citi, JP Morgan, RBS and Barclays
> pleaded guilty to conspiring to manipulate the price of dollars and euros,
> with traders using private chatrooms such as The Cartel, which was also
> referred to as The Mafia. UBS pleaded guilty to manipulating interbank
> lending rate Libor. The total fine: $5.7 billion, for what was described
> as a “brazen display of collusion”.
> -- Bandits, Mafia, Cartel. Bank Traders' Astonishing Online Messages[1]
[1] https://www.forbes.com/sites/leoking/2015/05/21/forex-barclays-citi-ubs-jpmorgan-online-chat-instant-messenger/ https://www.forbes.com/sites/leoking/2015/05/21/forex-barcla...