MercoPress. South Atlantic News Agency
Nine banks agree to pay US$2bn to investors over rigged foreign exchange rates
Nine banks have agreed to pay 2 billion dollars in settlements to US investors over claims they rigged foreign exchange rates, according to lawyers. They are taking action on behalf of investors, including hedge funds and pension funds, who accuse banks of conspiring to manipulate rates. Read full article
Comments
Disclaimer & comment rulesYet no one goes to jail.
Aug 17th, 2015 - 01:38 pm - Link - Report abuse 0Never....and don't think for a minute US Citizens don't want want them grubbags in jail. BoA's been fucking me since Merrill Lynch. Ken Lewis should be should or jailed.......either works as long as he is not dead. Moynihan backed into a mess, however he is rolling in greenbacks......greedy bastard.
Aug 17th, 2015 - 07:20 pm - Link - Report abuse 0Yea....they get a voice to voting as in buying votes......yet no criminal accountable. The GOP way.
Perhaps western governments should open up public banks,
Aug 18th, 2015 - 06:49 pm - Link - Report abuse 0none profit making and take all the trade of these private corrupt banks,
just saying like.
I don't so. Not a chance in hell I would want my government in the banking business. When you get a floater while bathing the baby, you change the water.....not the baby.
Aug 18th, 2015 - 07:56 pm - Link - Report abuse 0You may well be correct, but we need an alternative to these corrupt banks.
Aug 19th, 2015 - 06:30 pm - Link - Report abuse 0http://en.mercopress.com/2015/08/17/nine-banks-agree-to-pay-us-2bn-to-investors-over-rigged-foreign-exchange-rates#comment410958: Depends whether the baby is worth saving or not - that's the question.
Aug 20th, 2015 - 03:43 am - Link - Report abuse 0In 1970 Wall St barely existed as an identifiable component of the economy. But now it probably represents the single largest component of the economy. And it owes this growth to its conscious destruction of the previous largest economic sector.
The US has been in this position before. In 1860 the largest single capital component of the US economy was the value of slaves (and the largest export was cotton). This component was reduced to zero by the 13th and 14th Amendments. Leaving aside the moral and political questions of slavery and looking only at this transition from an economic and geopolitical point of view this destruction of capital by government was arguably the single most important factor that has made the US the supper power that it is today.
The question now is are we at a similar juncture with respect to Wall St.
Briton it is not that we really need an alternative is that we need leadership with balls to convict, sentence and make serve jail time, hard jail time to leaders of businesses who engage in criminal activity.
Aug 23rd, 2015 - 03:22 pm - Link - Report abuse 0How many CEO's go to jail? It's over due that this “fining businesses” change and criminally charge the BoD's, CEO's and President's. If President's of countries are responsible for actions below them for are leaders of businesses.
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