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Rubicon Associates is headed by a Chartered Financial Analyst with over 20 years of experience in the investment management industry focused on the analysis, investment and management of fixed income and preferred stock portfolios. Over the years, he has analyzed and invested in both public and... More
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  • How To Get Rid Of The Competition 3 comments
    Oct 11, 2013 2:53 PM

    Bloomberg:

    The U.S. Justice Department has opened a criminal investigation of possible manipulation of the $5.3 trillion-a-day foreign exchange market, a person familiar with the matter said.

    The Federal Bureau of Investigation, which is also looking into alleged rigging of interest rates associated with the London interbank offered rate, or Libor, is in the early stages of its currency market probe, said the person, who asked not to be identified because the inquiry is confidential.

    The U.S. investigation comes as the U.K. Financial Conduct Authority said in June it was reviewing potential manipulation of exchange rates. That month, allegations that dealers at banks pooled information through instant messages and used client orders to move benchmark currency rates were reported by Bloomberg News. Regulators are probing the alleged abuse of financial benchmarks used in markets from oil to interest rate swaps by the firms that play a central role in setting them.

    Currency manipulation (intervention) and rate rigging (QE infinity...) - how audacious to think you can act like the government (pick one).

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Comments (3)
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  • dieuwer
    , contributor
    Comments (2255) | Send Message
     
    Would be funny if they gonna sue Bernanke and Draghi. After all, these two guys "manipulate" the currency markets by making fancy statements.
    11 Oct 2013, 02:59 PM Reply Like
  • User 447425
    , contributor
    Comments (900) | Send Message
     
    It will never happen - Sueing Bernanke and Draghi. Truely untouchable on so many levels - not even a consideration.
    12 Oct 2013, 12:31 PM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (11015) | Send Message
     
    That's fine if it focuses on the US banks role in rigging prices. I wonder why they don't investigate Comex and the rest of the markets including Treasury auctions.
    14 Oct 2013, 01:01 AM Reply Like
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