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Reuters: Mass Arrests Imminent!!
Posted By: Jordon [Send E-Mail]
Date: Sunday, 22-Jul-2012 15:46:09
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Exclusive: Prosecutors, regulators close to making Libor arrests
(Reuters) - U.S. prosecutors and European regulators are close to arresting individual traders and charging them with colluding to manipulate global benchmark interest rates, according to people familiar with a sweeping investigation into the rate-rigging scandal.
Federal prosecutors in Washington, D.C., have recently contacted lawyers representing some of the individuals under suspicion to notify them that criminal charges and arrests could be imminent, said two of those sources who asked not to be identified because the investigation is ongoing.
Defense lawyers, some of whom represent individuals under suspicion, said prosecutors have indicated they plan to begin making arrests and filing criminal charges in the next few weeks. In long-running financial investigations it is not uncommon for prosecutors to contact defense lawyers for individuals before filing charges to offer them a chance to cooperate or take a plea, these lawyer said.
The prospect of charges and arrests of individuals means that prosecutors are getting a fuller picture of how traders at major banks allegedly sought to influence the London Interbank Offered Rate, or Libor, and other global rates that underpin hundreds of trillions of dollars in assets. The criminal charges would come alongside efforts by regulators to punish major banks with fines, and could show that the alleged activity was not rampant in the banks.
"The individual criminal charges have no impact on the regulatory moves against the banks," said a European source familiar with the matter. "But banks are hoping that at least regulators will see that the scandal was mainly due to individual misbehavior of a gang of traders."
In Europe, financial regulators are focusing on a ring of traders from several European banks who allegedly sought to rig benchmark interest rates such as Libor, said the European source familiar with the investigation in Europe.
The source, who did not want to be identified because the investigation is ongoing, said regulators are checking through emails among a group of traders and believe they are now close to piecing together a picture of how they allegedly conspired to make money by manipulating the rates. The rates are set daily based on an average of estimates supplied by a panel of banks.
"More than a handful of traders at different banks are involved," said the source familiar with the investigation by European regulators.
There are also probes in Europe concerning Euribor, the Euro Interbank Offered Rate.
It is not clear what individuals and banks federal prosecutors are most focused on. A top U.S. Department of Justice lawyer overseeing the investigation did not respond to a request for a comment.
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4 comments:
Unfortunately this isn't mass arrests happening.
If you read the Reuters article the blame is being attempted to be put on a "gang" of traders at the participating LIBOR banks.
In reality 20 international banks including complicit behavior by a Central Bank (the Bank of England -- ie, the Federal Reserve of England) and they will probably walk without even a slap on the wrist as their instructions were carried out and by traders who will be the scapegoats as the true criminal banksters walk.
As usual the have nots lose, the have yachts will win. We need to come for their heads. Crash this ponzi scheme of a financial system.
Quoted above:
"The prospect of charges and arrests of individuals means that prosecutors are getting a fuller picture of how traders at major banks allegedly sought to influence the London Interbank Offered Rate, or Libor, and other global rates that underpin hundreds of trillions of dollars in assets. The criminal charges would come alongside efforts by regulators to punish major banks with fines, and could show that the alleged activity was not rampant in the banks."
We all know the leaders of major banks are the only ones who could report what they charge to lend to other banks.
There is no way the tail wags the dog in banking such that an investor or group of investors can affect Libor...even if the group was a hedge fund...this article is one big PTusetoB controlled media program.
The word individual is sprinkled all over the place to try to show no cartel like behavior, no culpability, nor organized crime, of two or more persons.
A few individuals could not rob the entire world for 10 years without help.
Even if that help is someone who could have stop it; but turned the other cheek.
This news is just to set you up for other big things to come that people cannot be told for exposure right now, in order for them to know what they are unable to figure out and digest on their own.
It is great news in preparation for more coming at you full force and effect, than the very limited nature of the minds ability and capacity for comprehending a very lot of information, that your current belief system will not allow to be taken in at one sitting.
So if you are looking for the whole enchilada at one time right now, you do not understand how a sequence of events are engineered for this timeline breaking down, so you can still manage to maintain yourself standing and breathing at the same time.
It is very serious and you are not able to see what is about to be coming at you that is going to rock your mind into another dimension, all in order to break it down because it does not work properly and correctly for a new way of being human living in a new and much better world.
Otherwise the world would crash and burn. It is all being intelligently taken care of in the background made to leak out to the public in such a way where the masses of ignorant sedated people are still able to continue to function on with their ordinary lives, only up to a certain threshold.
Very well said, Sir. I agree with you entirely. I think I know where you are coming from. I pray that the 'mass arrests' do come about eventually. If this fails, then we face a grim future with a NWO police state, Agenda 21 etc. I hope therefore the arrests are eventually successful in order that the US returns to the Constitution and to the elimination of the corrupt cabal and shadow government.
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