>>7906757 lb
The Scam Wall Street Learned From the Mafia
Why? Because LIBOR already affects the prices of interest-rate swaps, making this a manipulation-on-manipulation situation. If the allegations prove to be right, that will mean that swap customers have been paying for two different layers of price-fixing corruption. If you can imagine paying 20 bucks for a crappy PB&J because some evil cabal of agribusiness companies colluded to fix the prices of both peanuts and peanut butter, you come close to grasping the lunacy of financial markets where both interest rates and interest-rate swaps are being manipulated at the same time, often by the same banks.
“It’s a double conspiracy,” says an amazed Michael Greenberger, a former director of the trading and markets division at the Commodity Futures Trading Commission and now a professor at the University of Maryland. “It’s the height of criminality.”
The Scam Wall Street Learned From the Mafia
How America’s biggest banks took part in a nationwide bid-rigging conspiracy – until they were caught on tape
https://www.rollingstone.com/politics/politics-news/the-scam-wall-street-learned-from-the-mafia-190232/
When prices are set by companies that can profit by manipulating them, we’re fucked.
Once it becomes clear the magnitude, the scope and the breadth of the criminality, then everyone gains 2020 vision
And when you see clearly… well… just read the articles at the two links below. 100s of TRILLIONS of dollars
And it happened in the Obama Administration…