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The Biggest Price-Fixing Scandal Ever

The Biggest Price-Fixing Scandal Ever
Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game. We found this out in recent months, when a series of related corruption stories spilled out of the financial sector, suggesting the world's largest banks may be fixing the prices of, well, just about everything. You may have heard of the Libor scandal, in which at least three – and perhaps as many as 16 – of the name-brand too-big-to-fail banks have been manipulating global interest rates, in the process messing around with the prices of upward of $500 trillion (that's trillion, with a "t") worth of financial instruments. That was bad enough, but now Libor may have a twin brother. The Scam Wall Street Learned From the Mafia Why? The bad news didn't stop with swaps and interest rates. "You name it," says Frenk.

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My Outline for a Solution in Gaza - Op-Eds - Arutz Sheva Ultimatum – One warning from the Prime Minister of Israel to the enemy population, in which he announces that Israel is about to attack military targets in their area and urges those who are not involved and do not wish to be harmed to leave immediately. Sinai is not far from Gaza and they can leave. This will be the limit of Israel’s humanitarian efforts. Hamas may unconditionally surrender and prevent the attack. Attack – Attack the entire ‘target bank’ throughout Gaza with the IDF’s maximum force (and not a tiny fraction of it) with all the conventional means at its disposal. All the military and infrastructural targets will be attacked with no consideration for ‘human shields’ or ‘environmental damage’.

In Climbing Income Ladder, Location Matters ATLANTA – Stacey Calvin spends almost as much time commuting to her job — on a bus, two trains and another bus — as she does working part-time at a day care center. She knows exactly where to board the train and which stairwells to use at the stations so that she has the best chance of getting to work on time in the morning and making it home to greet her three children after school. “It’s a science you just have to perfect over time,” said Ms. Calvin, 37. “Contractors” at Boston Marathon Stood Near Bomb, Left Before Detonation What appear to be private contractors, wearing unmarked, matching uniforms and operating an unmarked SUV affixed with communication equipment near the finish line of the Boston Marathon shortly after the bomb blasts – can be seen beforehand, standing and waiting just meters away from where the first bomb was detonated. The contractor-types had moved away from the bomb’s location before it detonated, and could be seen just across the street using communication equipment and waiting for similar dressed and equipped individuals to show up after the blasts. Image: An already widely distributed photo showing the contractor-types on the bottom left, just left of where the bomb was placed and detonated.

Secret Files Expose Offshore’s Global Impact Dozens of journalists sifted through millions of leaked records and thousands of names to produce ICIJ’s investigation into offshore secrecy ­ A cache of 2.5 million files has cracked open the secrets of more than 120,000 offshore companies and trusts, exposing hidden dealings of politicians, con men and the mega-rich the world over. The secret records obtained by the International Consortium of Investigative Journalists lay bare the names behind covert companies and private trusts in the British Virgin Islands, the Cook Islands and other offshore hideaways. They include American doctors and dentists and middle-class Greek villagers as well as families and associates of long-time despots, Wall Street swindlers, Eastern European and Indonesian billionaires, Russian corporate executives, international arms dealers and a sham-director-fronted company that the European Union has labeled as a cog in Iran’s nuclear-development program. “I’ve never seen anything like this. Mobsters and Oligarchs

Citigroup Settles FHFA Lawsuit Accusing It Of Misleading Fannie Mae, Freddie Mac * Federal Housing Finance Agency agrees to dismiss lawsuit * Agency will not say how much Citi will pay * Agency still in talks with other banks -spokeswoman By Nate Raymond Israel’s National Orgasm Upload video | Upload Photo Welcome Guest ! Please Login or Register The Benefits of Economic Expansions Are Increasingly Going to the Richest Americans Economic expansions are supposed to be the good times, the periods in which incomes and living standards improve. And that’s still true, at least for some of us. But who benefits from rising incomes in an expansion has changed drastically over the last 60 years.

4,000 Irish students seek 'sugar daddies' Nick Bramhill – Updated 10 May 2013 05:14 PM Some 4,464 female undergraduates here have joined, a US-based online-dating website, which pairs off young women with wealthy – and usually much older – international businessmen. A survey conducted last year by the website found that approximately 80pc of all relationships conducted through the service involved sex. New figures released by the online agency have shown a sharp increase in the number of so-called 'college sugar babies' in Ireland over the past year. The statistics show that four of the top 10 colleges using the service are based in Dublin. UCD tops the list, with 399 members, followed by Trinity College Dublin at 395.

Lobbying and declining corporate tax burdens According to a report today in the Washington Post, most companies in the Dow 30 have dropped their tax rates by at least half in the last four decades. The article notes a few factors: the corporate tax rate of today (35%) actually is lower than the corporate tax rate of 1971 (48%); Large U.S. companies today are increasingly multinational companies and so can keep corporate profits overseas; Companies have become increasingly aggressive in their tax strategies. But here’s another factor: Lobbying. When it comes to lobbying, the #1 issue for special interests in Washington is taxes. As I estimated back in November, 2,049 unique organizations had spent $619 million on lobbying during the 112th Congress (2011-2012). What does all that lobbying buy?

Lesson of JPMorgan’s Whale Trade: Nothing Was Learned Details of JPMorgan Chase's multibillion-dollar trading loss — brought to light by a riveting and devastating report [1] from the Senate Permanent Subcommittee on Investigations — demonstrate what a sham that is. Bankers aren't acting cautious and chastened. Risk managers aren't in the ascendance on Wall Street. Regulators remain their duped and docile selves. What we now know about the incident is that, as the cliché has it, the cover-up was worse than the crime.

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