Thursday, November 1, 2012

Barclays To Be Penalized $435 by Federal Energy Market Regulator


"More Probes Add to Barclays Woes: Energy Regulator Proposes $435 Million Fine as Justice and SEC Examine Bank's Efforts to Raise Cash" the WSJ by D. Enrich Nov 1, 2012 C1

Paraphrasing: The fine is in response to alleged manipulation of US electricity markets. Barclays is also facing an anti-corruption investigation.

OTHER RECENT SCANDALS: LIBOR AND EXCHANGE TRADED FUNDS IN COMMODITY MARKETS

Sep 22, 2012
The rise in popularity in a relatively new form of derivatives known as Exchange Traded Funds (ETFs) amplifies risks for the global economy. Assets in EFTS have doubled since 2007, reaching $1.2 trillion in 2012 (Bigda ...

Aug 27, 2012
"Banks being probed for interest-rate manipulation face potentially tens of billions of dollars in claims from dozens of lawsuits in the US from cities, insurers, investors and lenders who say they were hurt by the allegedly fudged ...
 
Jul 27, 2012
WSJ: "Libor Suits Weighed by Mutual Fund Firms". The Wall Street Journal July 27, 2012 p. C3. Majia here: Do you have a 401k? If so, your investments may have been harmed by the big banks' manipulation of the Libor rate.
 
Jul 16, 2012
Good News: "States Step Into Libor Probe". The Wall Street Journal July 16, 2012 By J. Eaglesham, R. Albergotti, & M. Corkery p. C1, C2. [Excepted] "Prosecutors in New York and Connecticut are investigating whether their ...
 
Jul 05, 2012
I hope everyone is following this scandal. It is yet another example of how corrupt the financial world is. As if we need another example. The scandal concerns the London interbank offered rate, which according to The Wall ...
 
Jul 08, 2012
One has to do with a period just before the financial crisis, around 2007, when Barclays and other banks submitted fake Libor rates lower than the banks' actual borrowing costs in order to disguise how much trouble they were ...
 
Jul 26, 2012
The second major scandal is the Libor scandal. This scandal demonstrates the degree to which the market system is rigged by the powerful players. The scandal concerns the London interbank offered rate, which according to ...
 
Jul 13, 2012
The criminal banksters get richer while municipalities are robbed through interest rate swaps with the big banks who were players in rigging the Libor rate. See Matt Taibbi references. How about cutting money on military ...
 
Feb 18, 2012
Paraphrasing: The article explains that the targets for the manipulation were the yen London interbank offered rate (yen Libor) and specific financial derivatives linked to Libor. The article reports that six banks on the yen Libor ...
 
 

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