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Barclays' (BCS) traders' emails from the U.K.'s FSA (.pdf) lay out in great detail an...

Barclays' (BCS) traders' emails from the U.K.'s FSA (.pdf) lay out in great detail an extraordinary conspiracy to manipulate arguably the world's most important market. $452M in fines and some C-level execs forgoing bonuses? That can't be the end of it.
Comments (8)
  • kmi
    , contributor
    Comments (3984) | Send Message
     
    Thank you, as I said in the earlier market current, this is felony level criminal activity.

     

    The harm perpetrated greatly exceeds the fine levied.
    27 Jun 2012, 09:28 AM Reply Like
  • TomasViewPoint
    , contributor
    Comments (4845) | Send Message
     
    Read the document. This was market manipulation and some people need fines and jail time. There are emails and IM's documenting the crime so the evidence is clear and direct.
    27 Jun 2012, 09:48 AM Reply Like
  • Losing Paper While Gaining ...
    , contributor
    Comments (497) | Send Message
     
    It's all a matter of perspective.

     

    If the central banks do it then it's because it's good for the economy. If a bank does it then it's fine-worthy.
    27 Jun 2012, 10:54 AM Reply Like
  • realitybiter
    , contributor
    Comments (219) | Send Message
     
    I don't understand why Sandusky's lawyers couldn't have just settled for $1000 an infraction and no admission of guilt.

     

    There is no DOJ
    diddling our junk
    27 Jun 2012, 11:21 AM Reply Like
  • horatioatthegate
    , contributor
    Comments (39) | Send Message
     
    Once again, self-regulation proves to be a joke.

     

    Once again, London proves to be a free market free-for-all -- Enron on the Thames.

     

    Just as state agencies monitor weights & measures, so the central bank should monitor the setting of LIBOR.

     

    We need a global transaction tax -- to pay for serious regulation with serious litigators with criminal penalties.
    27 Jun 2012, 05:23 PM Reply Like
  • Losing Paper While Gaining ...
    , contributor
    Comments (497) | Send Message
     
    " $452M in fines and some C-level execs forgoing bonuses"

     

    Sounds like government regulation is hardly any better. A global transaction tax just gives politicians more money. A regulation that the big players can afford while the small players get pushed out of the market.
    27 Jun 2012, 05:30 PM Reply Like
  • TomasViewPoint
    , contributor
    Comments (4845) | Send Message
     
    The regulations are in place. Now they can enforce them. End of story. This investigation shows that they are regulating.
    27 Jun 2012, 05:45 PM Reply Like
  • SHANE06
    , contributor
    Comments (25) | Send Message
     
    don't fine the bank...this is like fining the shareholders who had nothing to do with it. The executive and others involved should be fined and jailed.
    28 Jun 2012, 09:08 AM Reply Like
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