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13 large banks CHARGED

July 3, 2013

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Banks accused of colluding to protect Euro credit derivatives revenue

(excerpts)

BRUSSELS, July 1 (UPI) — Antitrust regulators in Europe charged 13 large banks Monday with colluding to prevent new competitors from entering the credit derivatives market.

The European Commission said the banks, market research firm Markit Economics and the International Swaps and Derivatives Association colluded to block Deutsche Borse and CME from entering the market.

The commission said Markit Economics, the trade association and the 13 banks worked together from 2006 through 2009 to prevent the exchanges from entering the market.

The New York Times reported Bank of America, Merrill Lynch, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, Morgan Stanley, Royal Bank of Scotland, UBS and collapsed investment firm Bear Stearns were named as taking part in the collusion.

*Prosecuting bankers: Blind justice

(excerpt)

For better or worse, many people would love to see more bankers behind bars for their role in blowing up the West’s financial system. In Britain not one senior banker has faced criminal charges relating to the failure of his institution. A handful have faced the lesser sanction of being barred from running another bank or company, or agreeing in settlements with regulators not to do so. (Policymakers have proposed introducing a “rebuttable presumption” that the directors of a failed bank should be automatically barred from running another unless they could prove they weren’t at fault.)

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6 comments

  1. http://macedoniaonline.eu/content/view/19712/46/

    Nederlandse vertaling ZapLog:

    http://zaplog.nl/zaplog/article/rothschild_maffia_bezit_mogelijk_heel_montenegro


  2. http://www.beurs.com/2013/07/22/goldman-sachs-komt-weer-weg-met-fraude/27223


  3. http://marketupdate.nl/nieuws/goud-en-zilvermarkt/het-goud-van-de-bundesbank-is-weg/



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