Category Archives: Economy

JPMorgan Chase Libor Subpoenas Coming from Everybody in the World

August 9, 2012 | HuffPost Pretty much everybody in the world with subpoena power has hit JPMorgan Chase with requests for information in the Libor-rigging scandal. The biggest U.S. bank revealed the extent of its involvement in the probe in … Continue reading

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Millions Take To Streets As Spain Unites Against Austerity

July 20, 2012 | RoarMag On Thursday, millions of Spaniards took to the streets in over 80 cities around the country in the largest protest since the past 15th of October, just hours after the Rajoy government ratified the largest … Continue reading

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Libor Lie – A Black Swan?

July 16, 2012 | USAWatchdog.com  The Libor interest rate rigging scandal is being called the biggest financial fraud in history.  Libor is a key interest rate that is used globally to set as much as $800 trillion in transactions.  It … Continue reading

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Exclusive: Prosecutors, Regulators Close to Making Libor Arrests

July 22, 2012 | Reuters U.S. prosecutors and European regulators are close to arresting individual traders and charging them with colluding to manipulate global benchmark interest rates, according to people familiar with a sweeping investigation into the rate-rigging scandal. Federal … Continue reading

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Revealed: The Capitalist Network that Runs the World

“”In effect, less than 1 per cent of the companies were able to control 40 per cent of the entire network,” says Glattfelder. Most were financial institutions. The top 20 included Barclays Bank, JPMorgan Chase & Co, and The Goldman … Continue reading

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£13tn: Hoard Hidden from Taxman by Global Elite

“According to Henry’s calculations, £6.3tn of assets is owned by only 92,000 people, or 0.001% of the world’s population – a tiny class of the mega-rich who have more in common with each other than those at the bottom of … Continue reading

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Citigroup Manipulated Libor More Than Any Other U.S. Bank: Reports

July 20, 2012| Huffington Post by Mark Gongloff, Chief Financial Writer So far Barclays has been the sad, British face of the Libor scandal, but there could soon come a day when an American bank could be the poster child … Continue reading

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The British, at Least, Are Getting Tough

“Later, in a speech to Parliament, [Chancellor of the Exchequer] Mr. Osborne voiced the question that so many have asked recently in the United States. “Fraud is a crime in ordinary business — why shouldn’t it be so in banking?” … Continue reading

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FORBES: It’s Not Libor Stupid, Central Banks Are the Problem

July 6, 2012 | Forbes The Libor scandal is about to get a whole lot worse. And, that’s the good news. Not only are at least twenty more big banks under investigation as part of a massive fraud to manipulate … Continue reading

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Roubini: Break Up the Banks or Hang Someone in the Streets

July 8, 2012 | Business Insider What can we do to prevent banking scandals? In a recent interview, Bloomberg’s Caroline Connan asked Nouriel Roubini what he thought about the Barclays LIBOR rate-fixing scandal. Rather than addressing it directly, Roubini argued … Continue reading

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