I USED TO TELL TO MY FRIENDS, EVEN NOW TRYING TO TELL EVERY BODY....RIGGING IS EVERY WHERE WHETHER SOMEBODY CAUGHT OR ESCAPED!!!- UNGRACEFULLY OR INTELLIGENTLY-------------------------IS ALWAYS THE QUESTION TO BE ASKED???????????!!!!!!!!!!!!!!!!!!...NOW EVERY PERSON BEING A PARTICIPANT CAN THINK, RECOLLECT THE EXPERIENCES OF RIGGING IN STOCK PRICES BE THEM PENNY STOCKS OR MARKET LEADERS... BUT THE FACT OF THE GAME IS THAT EVERY BODY IS ACCEPTING ONE FACT..."I CANNOT LIVE WITHOUT PARTICIPATING"
Libor Reported As Rigged In ’08 Proving 2012’S Revelation
By John Detrixhe - Jul 19, 2012 6:46 PM GMT+0530
Barclays Plc’s admission that it rigged the London interbank offered rate shows regulators, central bankers and politicians weren’t paying attention when everyone from Citigroup Inc. to theBank for International Settlements indicated that the measure was being manipulated.
The BIS signaled in March 2008 that the benchmark was being misstated. A month later, analysts at Citigroup suggested the same. In May of that year, one of Barclays’s own strategists said the numbers reported by banks “were a lie.”
Barclays’s acknowledgement that it submitted false rates during the height of the credit crisis cost Chief Executive Officer Robert Diamond and other top managers their jobs and cut the bank’s market value by about 4.4 billion pounds ($6.9 billion). In the U.K. and abroad, at least a dozen banks are being investigated for manipulating Libor. Mervyn King, theBank of England Governor since 2003, said this week that he only recently became aware of wrongdoing in the rate published by the British Bankers’ Association.......
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