Wednesday, November 12, 2014

November 12: Banks Fined More Than $3 Billion For Role In Forex Manipulation

November 12: Banks Fined More Than $3 Billion For Role In Forex Manipulation

These banks are CORKER WARNER JOHNSON CRAPO future of housing? WTF!!!

http://finance.yahoo.com/news/premarket-primer-wednesday-november-12-124435605.html

On Wednesday, a Federal probe into the role big banks played in a forex manipulation scheme resulted in huge fines for UBS AG (NYSE: UBS), HSBC Holdings plc (NYSE: HSBC), the Royal Bank of Scotland Group PLC (NYSE: RBS), JPMorgan Chase & Co. (NYSE: JPM) andCitigroup Inc (NYSE: C).
The banks will pay penalties totaling more than $3 billion because their traders worked together to manipulate foreign exchange rates. Using chat rooms and code names, traders from each bank shared confidential information detailing client orders through October 2013.
While CNBC and Reuters are reporting that the fines total $3.4 billion, The Wall Street Journalreported the number at $3.3 billion and USA Today is saying it's $3.2 billion. 

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