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The Biggest Price-Fixing Scandal Ever


Business  (tags: Matt Taibbi, big banks, international conspiracy, LIBOR, international interest-rates, ICAPfix, law loophole, collusion, conspiracy, how they get by with it, no law, no consequences, ISDAfix, CFTC, swaps, currencies, commodities, wholesale corruption )

Judy
- 482 days ago - rollingstone.com
The Illuminati were amateurs. The second huge financial scandal of the year reveals the real international conspiracy: There's no price the big banks can't fix. Ever wonder how they get by with it?



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Comments

Gloria picchetti (286)
Thursday April 25, 2013, 4:40 pm
If you can't trust the Rolling Stone who can you trust? The #42 Library of Lies?
 

Jason S. (57)
Thursday April 25, 2013, 7:20 pm
good posting, thanks
 

Beverly M. (85)
Friday April 26, 2013, 3:00 am
Leave it to Matt Taibbi to expose the truth and set it straight! Thanks Judy!
 

Ro H. (0)
Friday April 26, 2013, 5:12 am
ty
 

Past Member (0)
Friday April 26, 2013, 6:07 am
Thanks for sharing
 

Lynn D. (0)
Friday April 26, 2013, 6:11 am
Thanks, I've worked in a bank and just in the loan department it's amazing what banks get away with and shouldn't be able to!
 

Birgit W. (144)
Friday April 26, 2013, 2:26 pm
Thanks
 

Past Member (0)
Friday April 26, 2013, 4:50 pm
I'm one of those 'conspiracy theorists' who has been saying for years that there are but a handful of gangsters that control the corporate, and our, world. If you check just about every major corporation, (especially the powerful Blue Chip companies), you will find the biggest shareholders are the big banks. And, the "player" with his hands in the most pots the deepest is Rothschild. He has large investments in practically every nation's central banking system. He and his junior partner, Rockefeller are the top banksters!
 

Joanne Dixon (38)
Friday April 26, 2013, 7:14 pm
"What is the robbing of a bank compared to the founding of a bank?" - Bertolt Brecht
(frpm the Three Penny Opera)

 

Kathy Niell (93)
Friday April 26, 2013, 8:03 pm
Excellent article, so well written I could actually understand it. Man, are we ever screwed! And once again, the big banks are getting away with murder, too big to jail!
 

Helen Porter (40)
Friday April 26, 2013, 8:38 pm
Betcha I know what God they worship. SELF

I guess they got tired of the rituals and decided to worship the gold and to hell with the calf.
 

Judy C. (106)
Friday April 26, 2013, 10:49 pm
Thanks for the comments, and I'm glad for the people who keep following this story. People need to be informed.
 

june t. (65)
Saturday April 27, 2013, 2:17 am
thanks
 

Lindsay Kemp (1)
Saturday April 27, 2013, 5:44 am
Thanks for spreading this story wider!
 

Kit B. (277)
Saturday April 27, 2013, 8:41 am

All of the latest investigations show deep and intentional fraud. This is the expected result of removing regulations from not just banking but all business. Those regulations might well have needed a modern, updated version, they did not need to be removed and dismissed. Since most of these regulations began under FDR, they were meant to address the ways that a corporation and or banks scam, manipulate and perpetuate fraud against those they are supposed to be serving.

Business (banking) do not need regulations like a fish does not need water.
 

Kit B. (277)
Saturday April 27, 2013, 8:43 am

I really do love the skill and phrasing of any Matt Tiabbi article.
 

Lois Jordan (54)
Saturday April 27, 2013, 1:47 pm
Excellent posting--many thanks, Kit! Taibbi's one of the very few writers on this topic who presents the facts in an easily understandable way for us "regular" people. "Interest-rate swaps are a tool used by big cities, major corporations & sovereign governments to manage their debt, and the scale of their use is almost unimaginably massive. It's about a $3 Trillion market, meaning that any manipulation would affect a pile of assets about 100 time the size of the U.S. federal budget."
"Regulators looking into whether a small group of brokers worked with up to 15 of the world's largest banks to manipulate the ISDA-fix---a benchmark number used around the world to calculate the prices of interest-rate swaps." Taibbi calls this the "height of criminality."
I agree 100% and just hope the regulators aren't being "compromised." Since ICAP is considered "LIBOR's twin brother," we now know that both of these groups conspired...that's a double whammy to 99% of the world and a major coup.
 

Klaus Peters (11)
Monday May 6, 2013, 12:20 am
"The world is a rigged game". That said it all.
 
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