A new nightmare on Wall Street? U.S. banks face criminal probe into global interest rate-fixing scheme as Barclays blows the whistle on America's financial giants

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A new nightmare on Wall Street? U.S. banks face criminal probe into global interest rate-fixing scheme as Barclays blows the whistle on America's financial giants

 

 

 

By TOBY HARNDEN and THOMAS DURANTE

PUBLISHED: 23:38 GMT, 28 June 2012

 

 

Some of America's top banks are set to be dragged into a major criminal investigation of a global interest rate-fixing scandal about to engulf some of Wall Street's biggest institutions.

The worldwide probe centres on claims traders at Barclays colluded with rival banks to keep interest rates at levels to their benefit.

Barclays agreed to pay a whopping $453million in fines to the U.S. Justice Department and the UK's Financial Services Authority.

20 more banks were rigging interest rates: British bankers now facing criminal inquiry over scandal that was kept secret for years

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20 more banks were rigging interest rates: British bankers now facing criminal inquiry over scandal that was kept secret for years

 

 

 

  • Barclays shares drop 15 per cent as pressure on Diamond grows
  • George Osborne promises new criminal sanctions for market abusers
  • RBS, HSBC and Lloyds all named as under investigation as scandal widens

By JAMES CHAPMAN, BECKY BARROW, RUTH SUNDERLAND and ROB DAVIES

 

 

Hundreds of bankers across three continents are embroiled in the interest-rate fixing scandal that has left Barclays chief executive Bob Diamond fighting to save his job.

As pressure intensified on Britain’s highest paid banking boss to quit, MPs heard a string of other financial institutions across the world were under investigation.

Barclays: Cameron says bank faces 'serious questions'

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Barclays: Cameron says bank faces 'serious questions'

 

LAST UPDATED AT 29 JUN 2012, 


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Prime Minister David Cameron has said that Barclays Bank management has "serious questions" to answer over how it manipulated banking lending rates.

Barclays was fined £290m ($450m) after an investigation into claims that several banks manipulated the Libor rate at which they lend to each other.

I am a light worker ~ Part 4 ~ It is up to me

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All systems are go and our eyes are wide open, sort of like a deer caught in headlights. What happens now?  Sitting in my backyard, surrounded by summer flowers and stifling temperatures, not much; things look just about the same.  This is what has been counted on, make no mistake.

Those that are holding the strings have us lulled into complacency.  They are “banking on” (pun intended) our desire for comfort and sameness, no waves or disruptions.  Fear keeps us separate, following orders, nodding “yes”, obediently quiet and paying them.  We did not come to be subservient.  We came to serve.  We are light workers.  We work for the light.  Humanity is at this moment in need of our service.

Maya archaeologists unearth new 2012 monument

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Maya archaeologists unearth new 2012 monument

Maya archaeologists unearth new 2012 monument

 Archaeologists working at the site of La Corona in Guatemala have discovered a 1,300 year-old year-old Maya text that provides only the second known reference to the so-called “end date” for the Maya calendar on December 21, 2012. The discovery, one of the most significant hieroglyphic find in decades, was announced today at the National Palace in Guatemala.

“This text talks about ancient political history rather than prophecy,” says Marcello A. Canuto, Director of Tulane’s Middle American Research Institute and co-director of the excavations at the Maya ruins of La Corona. “This new evidence suggests that the 13 Bak’tun date was an important calendrical event that would have been celebrated by the ancient Maya; however, they make no apocalyptic prophecies whatsoever regarding the date," says Canuto.

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