Probe targets rigging in $5.3T curren...

Probe targets rigging in $5.3T currency market...

Posted in the Banking Forum

A Legal Expert

Dunkirk, NY

#1 Nov 17, 2013
Kevin McCoy, USA TODAY: Financial market experts have long speculated that the $5.3 trillion-a-day foreign exchange market might be manipulated. Even though the system that pension funds, major businesses and institutional investors rely on to trade world currencies dwarfs other financial markets, it has no outside overseers.

"There's no policeman, really," said Marti Subrahmanyan, a finance and economics professor at New York University's Stern School of Business. "These things have sort of fallen through the cracks. Foreign exchange is really nobody's kind of baby."

Now regulators and law enforcement agencies around the globe are focusing on the market amid suspicion that traders at global banks colluded in electronic messaging groups dubbed "the bandits club" and "the cartel" as they tried to enrich themselves at clients' expense.

The point: It is the beginning of A Meaningful Investigation to Place US Financial Market in Order!!!

Since: Jul 11

Location hidden

#2 Nov 17, 2013
A Legal Expert wrote:
Kevin McCoy, USA TODAY: Financial market experts have long speculated that the $5.3 trillion-a-day foreign exchange market might be manipulated. Even though the system that pension funds, major businesses and institutional investors rely on to trade world currencies dwarfs other financial markets, it has no outside overseers.
"There's no policeman, really," said Marti Subrahmanyan, a finance and economics professor at New York University's Stern School of Business. "These things have sort of fallen through the cracks. Foreign exchange is really nobody's kind of baby."
Now regulators and law enforcement agencies around the globe are focusing on the market amid suspicion that traders at global banks colluded in electronic messaging groups dubbed "the bandits club" and "the cartel" as they tried to enrich themselves at clients' expense.
The point: It is the beginning of A Meaningful Investigation to Place US Financial Market in Order!!!
Every few understand FOREX transactions and the outsiders will only cause more paperwork for us. In my opinion, they will not be able to control us. They can try. But, they will not succeed.

You can quote me.
A Legal Expert

Dunkirk, NY

#3 Nov 17, 2013
David Cheever wrote:
<quoted text>
Every few understand FOREX transactions and the outsiders will only cause more paperwork for us. In my opinion, they will not be able to control us. They can try. But, they will not succeed.
You can quote me.
With David Fraud Cheever around, Obama Administration can do nothing!!!

Since: Jul 11

Location hidden

#4 Nov 18, 2013
"The legal Expert" Baaaahahahahaahaaahaaaa!!!
The Watchful Eye

Dunkirk, NY

#5 Nov 18, 2013
David Cheever wrote:
"The legal Expert" Baaaahahahahaahaaahaaaa!!!
BaHa, BaHa and BaHa...The probe is proposed by Obama Administration!!!

Why don't you call your tutor, Jack Lew to find out!!!

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