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Old 28-06-2012, 09:20 AM #1
arista's Avatar
arista arista is offline
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Join Date: May 2006
Posts: 167,887
arista arista is offline
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Join Date: May 2006
Posts: 167,887
Default Barclays Bank are fined £290m for rigging the market


Sorry: Chief executive Bob Diamond
apologised for the incident and will forgo his bonus this yea

Read more: http://www.dailymail.co.uk/news/arti...#ixzz1z4t6noX5


"Between 2005 and 2009, more than
200 requests were sent, usually by email
or instant messenger - by traders to the
Barclays Libor submitters.
In one example of several provided
by the FSA, a trader emailed the Barclays
Libor submitter in March 2006,
writing: 'The big day
[has] arrived… My NYK are screaming at me
about an unchanged 3(month) libor. As always, any help wd be greatly appreciated. What do you think you’ll go for 3(month)?'
The submitter replied: 'I am going 90 altho 91 is what I should be posting.'
The trader thanked him, saying: '..when I retire and write a book about this business your name will be written in golden letters"



More to come

Last edited by arista; 28-06-2012 at 11:30 AM.
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