Tag Archives: Corruption

The Mega Banks’ Most Devious Scam Yet

The Mega Banks’ Most Devious Scam Yet
Call it the loophole that destroyed the world. It's 1999, the tail end of the Clinton years. While the rest of America obsesses over Monica Lewinsky, Columbine and Mark McGwire's biceps, Congress is feverishly crafting what could yet prove to be one of the most transformative laws in the history of our economy – a law that would make possible a broader concentration of financial and industrial power than we've seen in more than a century. ... Read more

Changing traders and tech won’t stop currency rigging

Changing traders and tech won’t stop currency rigging
Authorities in New York have announced they are launching an investigation into the manipulation of the world’s biggest financial market – the US$5.3 trillion a day traded in currencies. New York regulators join authorities elsewhere in the US as well as in the UK, Switzerland and Germany. Martin Wheatley, the UK’s chief financial regulator, has declared the scandal is likely to be “as bad as Libor”. If these allegations are proved to be ... Read more