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Inside The Swiss Franc LIBOR Rate Rigging Chatroom: 6 Years Of Manipulation
One of the nice things about the multitude of lawsuits and settlements surrounding the concerted effort by Wall Street’s largest banks to manipulate the world’s most important benchmark rates is they’ve produced a litany of hilarious chat transcripts that include such gems as "mess this up and sleep with one eye open at night" and the always popular, "if you ain’t cheatin, you ain’t tryin."
Now, courtesy of the appendix attached to the latest LIBOR-related suit brought against Wall Street (and one hedge fund), we bring you six years of Swiss franc LIBOR manipulation presented in chronological order. Highlights here include:
- "It is our natural right to reflect our interest in the libor fixing process"
- "Can't you ask your fft to contribute 1m chf libor very low today? I have 10yr of fix, 8 of which against ubs and they're getting on my nerves."
- "yes, ok mate, I am heading out for a run, enjoy, talk tom, get those fixings down"
- "whoooooohooooooo 0.01%? that'd be awesome"
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No jail time. Nobody cares and its on to the next scam.
The good old days when markets were manually rigged. Thank god for Algo's , now go arrest that computer.
I normally don't vote, but when I do, my vote is for vigilante justice.
Stay non conformist, my friends.
Stimulation, manipulation, revaluation, quantification, algoration, inflate-a-nation...it's all a back room jack off by banksters, politicons.
names?
I used to work for big ass companies, top 10 in the world.
And once every year, I had to organise a meeting with all ceo's and also a ceo's from competing companies where the market was devided.
First a good lunch, some entertainment and then we started cutting up the map. There where no budgets for these meetings, whatever the cost. That's how I saw how the uber rich lived. These guys got those countries, those got these and so on.
All together, the employed about 39 million people.
We always did the organising because we made it always so much fun.
And my boss back then only demanded one thing from me: get it all on tape.
And those tapes still exist. I wonder what that would do to the market.
I would have made a copy of said tape for my own archive.
Sickening. It's behavior like this that calls into question the long-term survival of our species.
Hey dumb dumbs. Your currency is bullshit worthless paper printed by a bunch of jooz.
Why do you care about Libor rigging?
Elect Pantsuit Skidmark!
You go girl!
These criminals need to be prosecuted and banned from the industry.
Wait till you get a look at Hillary's emails and she is discussing her arms dealings.
Nothing will happen to her either.
What happens if she was discussing those deals with "The Donald"?
BRrrGggzzzzzz-Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz...
"Nooooo!! NOOOOO - OOOH" "NOT THAT - NOOOOOOooo........"
Chunnga-chungzzzzzzzzz - "AAAAAAAAAAAAAAAAAHHHH!!...ZZZZZZZZZZZZZZtttt - "AAAAAAAAAAAAAAAAAHHHH...OOhh unh"
CHUNKga-CHUNKga-ZZZZZZttt...ZZZtt...CHUNK-GAAAaaa...zzzzzzzzzzzzzzzzzzzzzzz
"All right guys, prep the next banker for the chipper..."
Can we put Icahn in next? Plz?
It would be such a fitting ending to his life.
Tombstone:
Here lies king joo.
He got lots of confetti but added ZERO value.
The game is rigged folks!
Switzerland's hayday is over; they sold out their customers and mismanged their CB as well as their gold.
I don't see how asking for a high or lower fix is any different to the muppets on cnbc saying "we'd like to see these stocks higher".