Tag Archives: libor

Banksters at Barclays fined for fixing energy markets

The Federal Energy Regulatory Commission has fined Barclays $435m (£287m) for manipulating energy markets in California and other states. http://www.bbc.co.uk/news/business-23337178  In a series of electronic messages, according to the FERC complaint, the traders boasted of their ability to manipulate markets. In an email exchange, trader Scott Connelly’s colleagues asks: “You going to have fun with […]

Banksters get off the hook for Libor scandal

The world’s biggest banks won a major victory on Friday when a judge dismissed a “substantial portion” of the claims in private lawsuits accusing them of rigging global benchmark interest rates. http://www.nytimes.com/2013/03/30/business/global/judge-rejects-much-of-libor-lawsuit-against-banks.html?hp The banks had been accused of conspiring to manipulate Libor, a benchmark at the heart of more than $550 trillion in financial products. […]