Global banks admit guilt, insider trading scheme, fined nearly $6 billion

  • Posted by a hidden member.
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    May 20, 2015 9:31 PM GMT
    Opps.. conservative, free market, deregulation, lack of oversight, lessons learned? Nope. Public humiliation?, Yup icon_redface.gif

    "IF YOU AIN'T CHEATING, YOU AIN'T TRYING" icon_twisted.gif


    Global banks admit guilt in forex probe, fined nearly $6 billion
    http://finance.yahoo.com/news/ubs-says-settle-fx-probe-pay-545-million-053323621--sector.html

    Four major banks pleaded guilty on Wednesday to trying to manipulate foreign exchange rates and, with two others, were fined nearly $6 billion in another settlement in a global probe into the $5 trillion-a-day market.

    Citigroup Inc , JPMorgan Chase & Co , Barclays Plc , UBS AG and Royal Bank of Scotland Plc were accused by U.S. and UK officials of brazenly cheating clients to boost their own profits using invitation-only chat rooms and coded language to coordinate their trades.

  • Destinharbor

    Posts: 4433

    May 20, 2015 9:35 PM GMT
    Swell. So the stockholders get to pay the price and the executives pocketing tens of millions in bonuses every year get no punishment at all.
  • tj85016

    Posts: 4123

    May 20, 2015 9:35 PM GMT
    lol steal money by financial fraud, collect bonus, pay fines with shareholder money (maybe a little taxpayer bailout money too lol)

    great system

    Jamie Dimon should be in Riker's Island (no, it's not a resort)
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    May 20, 2015 9:47 PM GMT
    tj85016 saidlol steal money by financial fraud, collect bonus, pay fines with shareholder money (maybe a little taxpayer bailout money to lol)

    great system



    At least we know the conservative, republican way of doing business, the free market and deregulation, seems to attract the criminal element more often than a more regulated industry or government oversight. Is it any surprise the right wing cabal wants total, unregulated US business, then complain when they don't get it? "Dam, we don't get to cheat", (much)

    These people are truly classless, devils advocate souls in training icon_rolleyes.gif


  • tj85016

    Posts: 4123

    May 20, 2015 10:43 PM GMT
    ^^

    come on man, I know you're in LA, but there's a ton of criminal Democrats on Wall Street too

    they have dirt bags like Chuck Shumer and Joe Biden covering for them in Congress
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    May 20, 2015 10:53 PM GMT
    tj85016 said^^

    come on man, I know you're in LA, but there's a ton of criminal Democrats on Wall Street too

    they have dirt bags like Chuck Shumer and Joe Biden covering for them in Congress

    The patented slimy answer: they all do it, so that let's US Republican banking deregulation off the hook.
  • tj85016

    Posts: 4123

    May 20, 2015 11:09 PM GMT
    ^^

    which financial scandal? they rigged LIBOR, they rigged FX markets, JPM/Chase runs a physical aluminum scam out of Detroit warehouses

    Joe Biden's kid magically winds up on the Board of Directors of Ukraine's largest natural gas consortium after the US-led coup in Ukraine (another Goldman creep btw).

    Clinton's son-in-law is another Goldman creep who runs a shitty hedge fund now (and got his ass handed to him trading Greek bonds)

    you just might not be very sophisticated on these matters
  • Destinharbor

    Posts: 4433

    May 20, 2015 11:11 PM GMT
    Sure, there are some Dem Wall Streeters that get caught up in it, too, but they seem to at least fall on their sword. I'm hoping Dems may be heading slightly in the right direction now thanks to Warren but they'll get zero help from Republicans. Still, the trick will be to figure out how to hold ceo's accountable and jail a few of them. Or a lot of them. Euros haven't figured out how to do it either.
  • tj85016

    Posts: 4123

    May 20, 2015 11:14 PM GMT
    ^^

    Jamie Dimon is on the top of my list, but he's probably untouchable

    Chuck Shumer (D-NY) is probably the biggest Wall Street shill of them all, just like Clinton was (and Cuomo)
  • bobbobbob

    Posts: 2812

    May 20, 2015 11:20 PM GMT
    ELNathB saidOpps.. conservative, free market, deregulation, lack of oversight, lessons learned? Nope. Public humiliation?,


    ELNathB said At least we know the conservative, republican way of doing business, the free market and deregulation, seems to attract the criminal element more often than a more regulated industry or government oversight.


    Lie Much?

    From Open Secrets list of top 100 biggest contributors to US politics.
    http://www.opensecrets.org/orgs/list.php

    Percentage of dollars donated to parties
    #27. Citigroup................... 54% Dems....... 46% Reps
    #28. JP Morgan.................. 48% Dems....... 52% Reps
    #63. UBS............................ 41% Dems ...... 52% Reps

    Barklays made 38 donations to Democrats, 34 to Republicans
    http://www.campaignmoney.com/political/committees/barclays-group-us-inc-political-action-committee.asp?cycle=08

    Rpyal Back of Scotland appears to be a split of 47% to Dems/53% to Repubs.
    http://www.opensecrets.org/orgs/recips.php?cycle=2014&id=D000028825

    That's sure does butt fuck your lie filled delusions about "the republican way of doing business" doesn't it?
  • tj85016

    Posts: 4123

    May 20, 2015 11:25 PM GMT
    stop with the caps bobobobo, it's annoying and childish - people can read
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    May 20, 2015 11:26 PM GMT
    tj85016 said
    you just might not be very sophisticated on these matters

    Sophisticated after 6-1/2 years here to know a partisan plant when I read one.
  • Posted by a hidden member.
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    May 20, 2015 11:28 PM GMT
    The bigger the font. the smaller the proofs. icon_biggrin.gif
  • tj85016

    Posts: 4123

    May 20, 2015 11:32 PM GMT
    Art_Deco said
    tj85016 said
    you just might not be very sophisticated on these matters

    Sophisticated after 6-1/2 years here to know a partisan plant when I read one.


    you have absolutely no clue what you're talking about on this topic Art, so leave before you keep making a fool out of yourself. i'm not a "plant", just a guy from NJ who lives in NY and has been trading since I was 23 (although never as an occupation)

    I don't defend either Dems or Reps when I see the crap they both pull - I didn't "hide" in the army in my 20's - I actually learned some things instead


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    May 20, 2015 11:37 PM GMT
    tj85016 said
    I didn't "hide" in the army in my 20's - I actually learned some things instead

    Ah, serving in the US military is "hiding"? Hiding from what? Serving my country? Too bad you never tried it. Might have done you some good.
  • tj85016

    Posts: 4123

    May 20, 2015 11:40 PM GMT
    Art_Deco said
    tj85016 said
    I didn't "hide" in the army in my 20's - I actually learned some things instead

    Ah, serving in the US military is "hiding"? Hiding from what? Serving my country? Too bad you never tried it. Might have done you some good.


    you, yourself once stated you were "hiding in the army in my 20's" so there's that. I didn't need the military to teach me to take orders lol. I started a business in Buffalo with SBA loans and some backing instead of marching around in the mud for nothing
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    May 20, 2015 11:51 PM GMT
    tj85016 said
    ...instead of marching around in the mud for nothing

    I begin to believe you may have indeed been involved in the US financial sector. Only there would I expect to find such self-satisfied scorn for the US military.

    "Marching around in the mud for nothing..." Is that really what you thought we did? Maybe you have a similar gem you can post for the US Navy and Air Force.

    I don't think you just made a lot of friends with the military veterans here, in all branches and other countries.

    "Marching around in the mud for nothing." I'll have to remember that priceless quote. I think a lot of us here will want to write that one down. You selfish, greedy, money-grubbing fuck. icon_biggrin.gif
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    May 21, 2015 3:43 AM GMT

    Some people never learn... or do they?






  • bobbobbob

    Posts: 2812

    May 21, 2015 6:29 AM GMT
    Art_Deco saidThe bigger the font. the smaller the proofs. icon_biggrin.gif


    Funny you of all people would say that. If you wish to prove how small the proofs are get your nasty lying pompous fat ass busy refuting them instead of acting like nasty lying pompous fat ass queen.

    Every liberal and conservative in RJ knows how prolific a liar you are and you're still trying to prove it just in case anyone should ever doubt it.
  • bobbobbob

    Posts: 2812

    May 21, 2015 6:35 AM GMT
    The shitty part of this is NONE of the people involved are being prosecuted or fined. All the fines are going to fall back on the stockholders in the bank.