After a bit digging I found about a probable cause.
If I'm correct, its about this - the manipulation of foreign-exchange rates. Its under investigation worldwide/mainly europe since last October.
During that time JP Morgan replace its FX head with a new guy, probably to facilitate investigation. The problem actually noticed around June.
The problem is this - Some major bank traders gather around chatroom/instant messenger and attempt to disrupt the London FX fix and its LIBOR market,
taking advantage of that time (4PM London). It is a daily event for money manager to adjust their holdings - profit/loss. These major traders then
start playing the market and disrupt the price. This lead to disruption to the said country economy (probably entire europe).
Major banks start halting or limiting their traders access to the services, some sent to leave, and no PR dare to say anything.
So, it seems major banks traders are gathering around, manipulating market to their liking, yes, its their business, but when it can bring a
big country, things should be straighten out.
Banks under investigation
Royal Bank of Scotland
Barclays, UBS, Switzerland's largest bank, Deutsche Bank already made their move and probably come clean.
If you think thats a small word/assumption, consider the volume they trade. 47% of 5 trillion, daily price manipulation. Something like - Soros on
steroid and pimp up.
So I guess, we can close the case now, let the regulators deal with it.
edit on 6-2-2014 by NullVoid because: (no reason given)