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Total (TOT) Oil Trading, one of the world’s largest oil trading groups, warned IOSCO...

Total (TOT) Oil Trading, one of the world’s largest oil trading groups, warned IOSCO during its manipulation probe of “inaccurate pricing” in energy market benchmarks underpinning billions of dollars of trading each day in contracts such as Brent and WTI. It's not good news after the discovery of widespread manipulation of Libor, the benchmark for borrowing in interbank lending.
Comments (7)
  • wyostocks
    , contributor
    Comments (7641) | Send Message
     
    Really?
    Shocking, simply shocking.
    8 Oct 2012, 03:32 PM Reply Like
  • Interesting Times
    , contributor
    Comments (10172) | Send Message
     
    Wow..

     

    More manipulation going on....when ais the public gonna really catch on.

     

    Buy your physical metals and ray for the best,
    8 Oct 2012, 11:13 PM Reply Like
  • blueice
    , contributor
    Comments (3007) | Send Message
     
    Just what government freaks enjoy, another fairy tale agency for conspiracynecks...
    8 Oct 2012, 11:42 PM Reply Like
  • Maninder Batra
    , contributor
    Comments (572) | Send Message
     
    @USA and the West are now officially the world's largest kleptocracy, with corruption bigger than their economies .

     

    Even Robert Mugabe would blush at the corruption level in USA and the WEst
    9 Oct 2012, 12:56 AM Reply Like
  • Maninder Batra
    , contributor
    Comments (572) | Send Message
     
    @wyostocks,Check the 450 to 650 trillion $ libor scandal.
    9 Oct 2012, 12:57 AM Reply Like
  • User 353732
    , contributor
    Comments (4788) | Send Message
     
    The power to control vast almost free credit, deploy expensive , potent and propretary technology and deep access to privileged information is the power to manipulate credit, currency, equity and even commodity markets.

     

    The temptations and corruptions of power are equally potent in finance as they are in politics and given the concentration of political and economic power in all major economies, corruption is both endemic and growing.
    9 Oct 2012, 05:13 AM Reply Like
  • untrusting investor
    , contributor
    Comments (9923) | Send Message
     
    Who wants to compete in a free market based system with competition and real price discovery when the biggest players can payoff governments and regulators and steal as much as they want and not have to worry about jail or risk. Payoffs of billions are chump change compared to stealing trillions.
    9 Oct 2012, 09:43 AM Reply Like
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