Established in 2006 as a Community of Reality

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Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


4 posters

So many bankers have taken their lives lately?

Neno
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So many bankers have taken their lives lately? Empty So many bankers have taken their lives lately?

Post by Neno Fri Aug 14, 2015 7:57 pm

8/14/2015 11:07 am  
Currency-rigging lawsuit settlements rise past $2 billion


 So many bankers have taken their lives lately? Bi-author-default  Business Insurance  

 



(Reuters) — Investors have recovered more than $2 billion in settlements with nine banks over claims of price-rigging in the foreign exchange market, and are continuing to pursue claims against seven other banks, a lawyer for the plaintiffs said Thursday.

HSBC Holdings P.LC., Barclays P.L.C., BNP Paribas S.A. and Goldman Sachs Group Inc. are among the latest banks to reach settlement in the class action litigation, Christopher Burke, the lawyer, said in federal court in Manhattan.

Those banks and five others have agreed to provide “substantial cooperation” as the plaintiffs pursue claims against seven other defendants accused of manipulating prices in the $5.4 trillion-per-day foreign exchange market, Burke said.

“We look forward if necessary to litigating through trial,” Mr. Burke said in an interview after the hearing.

Michael Hausfeld, Mr. Burke’s co-counsel, called the deals “just the beginning,” saying he is being consulted about bringing cases overseas regarding conduct in the larger Asian and European markets.

Both lawyers declined to say much each bank would pay. Goldman Sachs will pay $129.5 million, a person familiar with the matter said.

The Wall Street Journal in June reported that HSBC would pay $285 million while Barclays would pay $375 million. Those numbers remain unconfirmed, and the banks on Thursday either declined comment or did not respond to requests for comment.

The plaintiffs previously announced $808.5 million settlements with four banks, while Royal Bank of Scotland Group P.L.C. in May disclosed reaching a deal without announcing the terms.

Investors including hedge funds and pension funds accused the banks of impeding competition by conspiring to manipulate the WM/Reuters Closing Spot Rates in chat rooms, instant messages and emails.

According to the plaintiffs, traders at the banks used chat rooms with names such as “The Cartel,” “The Bandits’ Club,” and “The Mafia” to communicate with each other.

They said traders manipulated prices through tactics such as “front running,” “banging the close” and “painting the screen,” using disguised names to swap confidential orders.

The settlements came after four of the banks — Citigroup Inc. , JPMorgan Chase & Co., Barclays and RBS — pleaded guilty in May in related criminal cases.

In total, U.S. and European regulators have extracted more than $10 billion in settlements with seven banks over the alleged manipulation schemes.

In the class action, previously announced settlements include $99.5 million from JPMorgan, $394 million from Citigroup, $180 million from Bank of America Corp. and $135 million from UBS A.G.

http://www.businessinsurance.com/article/20150814/NEWS06/150819895?tags=58|411|409|408|338|83|75
weslin3
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So many bankers have taken their lives lately? Empty Re: So many bankers have taken their lives lately?

Post by weslin3 Fri Aug 14, 2015 8:31 pm

There has been a bunch in the last couple of years that has taken their lives or someone helped them.  May not have wanted to face the consequences. It's all catching up with a lot of them.
duck2000
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Post by duck2000 Fri Aug 14, 2015 8:59 pm

taken there lives cant be with all the banker stories of them being rich and first to know bout da dinar!
Screwball
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Post by Screwball Fri Aug 14, 2015 10:11 pm

Lol....
weslin3
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Post by weslin3 Fri Aug 14, 2015 11:03 pm

funny Maybe they are upset because they never did get any dinar....  lol!
weslin3
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So many bankers have taken their lives lately? Empty Re: So many bankers have taken their lives lately?

Post by weslin3 Fri Aug 14, 2015 11:05 pm

Or maybe some dinar people camped out in their parking lots or crazy ones called their bank every day checking.. That would cause you to be suicidal. crazy

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