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Exclusive: Prosecutors, regulators close to making Libor arrests

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posted on Jul, 22 2012 @ 05:27 PM
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Exclusive: Prosecutors, regulators close to making Libor arrests


www.reuters.com

Federal prosecutors in Washington, D.C., have recently contacted lawyers representing some of the individuals under suspicion to notify them that criminal charges and arrests could be imminent, said two of those sources who asked not to be identified because the investigation is ongoing.

Defense lawyers, some of whom represent individuals under suspicion, said prosecutors have indicated they plan to begin making arrests and filing criminal charges in the next few weeks. In long-running financial investigations it is not uncommon for prosecutors to contact defense lawyers for individuals bef
(visit the link for the full news article)

ats links
www.abovetopsecret.com...

www.abovetopsecret.com...
edit on 22-7-2012 by XPLodER because: (no reason given)




posted on Jul, 22 2012 @ 05:27 PM
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Members have been saying that no arrests will follow the libor criminal rate fixing scandal that has been all over ats for weeks,
well some of the people under investigation have been notified they are under notice of criminal prosecutable actions.

this involves traders for some of the largest banks on earth, and include UK and american banks and traders.

these are actions outside of regulatory enforcement and are CRIMINAL in nature for such things as fraud, rate rigging, and making false financial statements.

is this the start to the end of corruption?
or just the small time traders being thrown under the bus?


Reuters previously reported that more than a dozen current and former employees of several large banks are under investigation, including Barclays Plc, UBS and Citigroup, and have hired defense lawyers over the past year as a federal grand jury in Washington, D.C., continues to gather evidence.


same source as link

time will tell.

www.reuters.com
(visit the link for the full news article)
edit on 22-7-2012 by XPLodER because: (no reason given)



posted on Jul, 22 2012 @ 05:30 PM
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Originally posted by XPLodER

Members have been saying that no arrests will follow the libor criminal rate fixing scandal that has been all over ats for weeks,
well some of the people under investigation have been notified they are under notice of criminal prosecutable actions.

this involves traders for some of the largest banks on earth, and include UK and american banks and traders.

these are actions outside of regulatory enforcement and are CRIMINAL in nature for such things as fraud, rate rigging, and making false financial statements.

is this the start to the end of corruption?

or just the small time traders being thrown under the bus?


This ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

And nothing more.



posted on Jul, 22 2012 @ 05:37 PM
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reply to post by BoilingFrog
 


we have seen that the RBS have not wanted to go down alone and have implicated others,
would these traders give up others to save themselves?

if the right pressure was put on those with knowledge what would stop them from spilling the truth to save themselves.

remember cut throat traders are very selfish types.

xploder



posted on Jul, 22 2012 @ 05:41 PM
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reply to post by XPLodER
 


i love it. Theyll blindside some victimless criminals.. And give a few weeks heads up to financial terrorists. "hey guys.. You might want to tuck all your gold away, we may be filing charges soon."



posted on Jul, 22 2012 @ 05:42 PM
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Originally posted by XPLodER
reply to post by BoilingFrog
 


we have seen that the RBS have not wanted to go down alone and have implicated others,
would these traders give up others to save themselves?

if the right pressure was put on those with knowledge what would stop them from spilling the truth to save themselves.

remember cut throat traders are very selfish types.

xploder


Superficial views - global powers live outside of the law and prosecution.

Get over it.



posted on Jul, 22 2012 @ 05:43 PM
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ITs a few traders been thrown under the bus;


"But banks are hoping that at least regulators will see that the scandal was mainly due to individual misbehavior of a gang of traders."

www.huffingtonpost.com...

So once again the banks are fine and just a few patsy traders will take the hit. They are talking about a dozen traders possibly getting arrested.

Scandal over. Too funny.


This is not breaking or exclusive. Its already been discussed on the site.(Its not alternative either)



posted on Jul, 22 2012 @ 05:48 PM
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reply to post by lacrimaererum
 



Sun Jul 22, 2012 12:18pm EDT


date of story from reuters,

this shows that the word has come down that "some rouge traders" are being indited on criminal charges,
my point would be why would these guys not spill on the higher ups who had to know as well?

will these traders go to jail willingly or will they work with investigators to show complisity from higher management?

xploder



posted on Jul, 22 2012 @ 06:04 PM
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reply to post by XPLodER
 


Its awfully nice of the authorities to let these people know of impending arrests??????

This just shows how some have more rights than others!!!



posted on Jul, 22 2012 @ 06:07 PM
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There is NO WAY in hell that the bosses did not know this went on.......
if we get just a few small fry in the net, and no big fish, its time to take matters into our own hands......
The goverment has already declared a state of war upon the people....with legeslation allowing targeted executions without trial, indefinate detention without trial, no more hebeas corpus......And they are preparing to use military force upon the people of America...in order to maintain control of the system, rather than step down and allow more honest goverment.fairer banking laws and charges, as well as repeal the various acts which have taken the freedom from the soveriegn American citizens.
If they do NOT do this soon, the very people they rule will remove them from office and try them for the treasonous bastards they are......



posted on Jul, 22 2012 @ 06:12 PM
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reply to post by XPLodER


these are actions outside of regulatory enforcement and are CRIMINAL in nature for such things as fraud, rate rigging, and making false financial statements.

is this the start to the end of corruption?

 


en.wikipedia.org...(book)

A good read is "A Den of Thieves" which covers the junk bond era of the 1980's. In it you get a good run down of the financial system and why so many people don't get prosecuted.

Some highlights are:

1. It's so complicated and convoluted that the difference between a criminal transaction and a normal one is usually just legalese wording or simply confusion.

2. The enforcement bureaus responsible for apprehending and prosecuting these people are either completely understaffed, inept, or part of the same crowd that profits off of immunity.

3. Everyone does it. Everyone

Milken may have taken the fall for junk bonds, help create the problem, but great fortunes of wealth were created from what he did. T Boone Pickens was one of the names that came up but pretty much anyone who made something in the 80's profited off the scam. As have countless others during other financial blunders like TARP, Enron, the E-Bubble, etc.

The system is criminal from the ground up. Especially when you bring in leveraged banking and fiat currency. I suggest watching this clip of a former Canadian Finance Minister trying to explain the financial system:

www.youtube.com...

"It's not fraudulent, because everyone understands it."



Saying "It's not fraud because everyone understands it" is unacceptable of a financial minister. And what he needs to realize is that no one understands most of their banking transactions. Unfortunately, they do sign a contract stating that they do. So legally, I suppose they do.

Too bad no one can live at all without signing away their life.


Section 380(1) of the Criminal Code of Canada provides the general definition for fraud in Canada:
380. (1) Every one who, by deceit, falsehood or other fraudulent means, whether or not it is a false pretence within the meaning of this Act, defrauds the public or any person, whether ascertained or not, of any property, money or valuable security or any service,



posted on Jul, 22 2012 @ 06:15 PM
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Getting to the bottom of the LIBOR fraud is not the same as getting to the bottom of a corrupt international monetary system. In fact the LIBOR scandal may just be a sacrifice to push people into asking for international regulation, of forcing Britain to join the EU consolidation of regulatory power in international hands not accountable to any representative government.

Is this the LIBOR scandal merely for show, is the uncovering of the scandal itself merely a manipulation of public and Parliament or is this a real comeuppance in the works? I doubt it is the latter. There simply is no group in England powerful enough to give the City Of London its comeuppance.

My guess is that this is a controlled "sacrifice" for show, a fake purging of evil by Satan himself so we will trust him again.



posted on Jul, 22 2012 @ 06:30 PM
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reply to post by BoilingFrog
 


my guess is,
that now the public are outraged, they will not be happy untill the criminality is exposed and that criminal bankers go to jail.

people in my country refuse to park money in the us at the moment because usually after a collapse people goto jail,
untill that happens whole countries will avoid the us financial system.

there can be no trust untill the criminals are subject to the same laws as the rest of us

xploder



posted on Jul, 22 2012 @ 06:34 PM
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reply to post by boncho
 


so if there were simple info graphics to explain the problem more people would demand jail time for the criminals.

i do happen to understand fractional reserve banking and the role it plays in the destruction of democracy,

so the people are being educated but it takes time to achieve,
and economics is intentionality complicated to stop people from investigating.

i guess it comes down to how simple you can explain a complex issue.

xploder



posted on Jul, 22 2012 @ 06:48 PM
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Originally posted by XPLodER
reply to post by boncho
 


so if there were simple info graphics to explain the problem more people would demand jail time for the criminals.

i do happen to understand fractional reserve banking and the role it plays in the destruction of democracy,

so the people are being educated but it takes time to achieve,
and economics is intentionality complicated to stop people from investigating.

i guess it comes down to how simple you can explain a complex issue.

xploder


The real problem is that no matter the simplicity people will not want to understand either out of boredom or apathy. I have a feeling most people involved in the industry don't understand half of it.

What is most important though, is once someone does, they are able to monetize it. And when you shout in a room that someone is stealing your food and no one listens, it's probably easier to just take the food yourself.



posted on Jul, 23 2012 @ 11:02 AM
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reply to post by Myendica
 


Betcha they won't get much jail time either lol. The ones that do get serious jail time will probably turn up terminally ill like Madoff.



posted on Jul, 23 2012 @ 07:59 PM
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Federal prosecutors in Washington, D.C., have recently contacted lawyers representing some of the individuals under suspicion to notify them that criminal charges and arrests could be imminent,


How nice to be "notified".

Had any normal person pulled the same c(@p, our doors would be kicked in at 4:30 in the morning, AR's shoved down our throat.



posted on Jul, 24 2012 @ 06:21 PM
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The DOW was down again today, I wonder if it has anything to do with this scandal?



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