link: "Lawsuit Filed vs. US Banks Rigging $12.8 Trillion Market"

link: "Lawsuit Filed vs. US Banks Rigging $12.8 Trillion Market"

Posted By: hobie [Send E-Mail]
Date: Sunday, 20-Sep-2015 02:43:51

Hi, Folks -

Thanks to Reader B. for this link. :) Found here:

http://geopolitics.co/2015/09/18/lawsuit-filed-vs-us-banks-rigging-12-8-trillion-market/

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Lawsuit Filed vs. US Banks Rigging $12.8 Trillion Market

Excerpt:

A probe into their practices found that more than two-thirds of a certain type of Treasury auction have been rigged from 2009 to 2015 while there were issues with other auctions, too.

“The only plausible explanation is that Defendants coordinated artificially to influence the results of the auctions in the primary market,” according to the lawsuit.

The dealers artificially boosted yields while lowering prices when auctions were initially issued before selling them at higher prices and correspondingly lower yields in the secondary markets, an analysis of their dealings found.

Full article: http://geopolitics.co/2015/09/18/lawsuit-filed-vs-us-banks-rigging-12-8-trillion-market/

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