UBS to pay $1.5 billion for Libor fraud; two traders charged

Dec 19, 2012 Full story: Click Orlando 10

Two former UBS traders face criminal charges as part of a sweeping case announced Wednesday in which the Swiss bank agreed to pay $1.5 billion after admitting to manipulating global benchmark interest rates.

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“Open your eyes”

Since: Sep 09

Central Florida

#1 Dec 19, 2012
And there are your scapegoats.

Majority of the people have absolutely no clue what the LIBOR scandal means and how LIBOR effects every single person in the world.

$1.5B in fines is nothing comparable to the derivative exposures of these banks. And the high up execs knew what was going on, and milked it to line their pockets and steal wealth.

And who goes to jail? 2 lower level traders.

It's all bullshit.
Lance Winslow

San Jose, CA

#2 Dec 19, 2012
Kahoki wrote:
And there are your scapegoats.
Majority of the people have absolutely no clue what the LIBOR scandal means and how LIBOR effects every single person in the world.
$1.5B in fines is nothing comparable to the derivative exposures of these banks. And the high up execs knew what was going on, and milked it to line their pockets and steal wealth.
And who goes to jail? 2 lower level traders.
It's all bullshit.
Bush woulda put 'em on the SEC.

“Open your eyes”

Since: Sep 09

Central Florida

#3 Dec 19, 2012
Lance Winslow wrote:
<quoted text>Bush woulda put 'em on the SEC.
Probably.

And Obama would probably put them in the treasury.

Same game, just a different face and lettering after their names.
dr peppper

Nha Trang, Vietnam

#4 Dec 19, 2012
Kahoki wrote:
And there are your scapegoats.
Majority of the people have absolutely no clue what the LIBOR scandal means and how LIBOR effects every single person in the world.
$1.5B in fines is nothing comparable to the derivative exposures of these banks. And the high up execs knew what was going on, and milked it to line their pockets and steal wealth.
And who goes to jail? 2 lower level traders.
It's all bullshit.
;) show mi the money in Bank vs. Fed Notea Reading!! mov on with Politea Scienteeth!! ;-000h, u hav no game?:)
Remove license

Ridgewood, NJ

#5 Dec 26, 2012
The CFTC should remove their license to operate in the US because of repetitive fraud, inability to supervise their traders
UBS a fraud

Ridgewood, NJ

#6 Dec 26, 2012

The CFTC should remove UBS's license to operate in the US because of repetitive fraud and the inability to supervise their traders
Am Used

Sydney, Australia

#7 Dec 26, 2012
And HSBC is paying $1.9 Billion for money laundering.
While you might point to these international banks as being crooks - which the US Government certainly claims - what about the US Government who instead of pursuing criminal action as those responsible accepts Billion Dollar pay-offs (proceeds of crime) to shut their mouths and turn a blind eye to all the culprits wheelings and dealings and doings??
Thomas

Ridgewood, NJ

#8 Dec 27, 2012
Remove license wrote:
The CFTC should remove their license to operate in the US because of repetitive fraud, inability to supervise their traders
I totally agree with you. This company doesn't serve a purpose. They are a fraud to the core with annual fines, deceiving customers, stockholders, and employees. The CFTC should pull their license. They are here in the US to outsource our jobs.

Since: Nov 12

Cagayan De Oro City, Philippines

#9 Feb 7, 2013
nice thread. thanks for sharing that information. it was very informative.
[url=http://www.legacylegal.co m/credit-education/credit-topi cs/best-credit-score.asp]Best Credit Score[/url]
syndicate

Toronto, Canada

#10 Feb 7, 2013
Why so much panic?tax payers will take care of losses like in UK guys:)

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