Major Banks Fined $4.3 Billion over Exchange Market Manipulation (Nov. 13) — Six of the world’s largest banks have been fined a collective $4.3 billion for manipulating the foreign exchange market. HSBC, Royal Bank of Scotland, JPMorgan Chase, Citigroup, UBS AG and Bank of America were found to be negligent in traders’ collusion around global […]
Tag Archives | finance
OCCUPIED TUCSON CITIZEN The federal government, in collusion with universities and colleges both public and private, appears determined to resurrect an early American form of debt bondage for the benefit of its student population. This debt bondage, called “indentured servitude,” was prevalent in the 18th century and involved workers getting free transport to the American […]
THE REAL NEWS BLACK: “The United States government, now with the endorsement of the Justice Department, has said that after investigation it found that essentially every large bank involved in the secondary market sales to Fannie and Freddie committed fraud [...] and intentional crime. [...] There were three of these epidemics of mortgage fraud that […]
OCCUPIED TUCSON CITIZEN After a brief lull, anti-austerity protests in Europe were dramatically ratcheted up last week, especially in Greece and Spain. In Greece last Wednesday there was a 24 hour general strike to protest a new package of cut-backs and take-backs that shut down the entire country. In addition, over 300,000 demonstrators marched in […]
THE REAL NEWS Even though many on Wall St. understand need for regulation, most want a free-for-all and damn the consequences.
OCCUPIED TUCSON CITIZEN The LIBOR manipulation story has exploded into a major scandal overseas. The CEO of Barclays, Bob Diamond, has resigned in disgrace; his was the first of what will undoubtedly be many major banks to walk the regulatory plank for fixing the interbank exchange rate. The Labor party is demanding a sweeping criminal […]
OCCUPIED TUCSON CITIZEN Thanks to an indictment brought about through the efforts of the M15 movement (the Spanish version of Occupy), ex-IMF and Bankia Chief Rodrigo Rato is now facing a criminal proble and has been ordered to appear in court to face criminal fraud accusations related to the downfall of Bankia, one of Spain’s […]