Barclays guilty of manipulating interest rates

Regulated manipulation, in my crazy mind, is not the same as manipulation without regulation.

But like I said, what's working in my mind could never work in real life :(

Saying that, though, we do already have a form of regulated manipulation... these barely bailouts are making some people very very rich (or, more so than they already were)! So yes, in the real world - it doesn't work at all, it just gets abused.
 
crinkleshoes said:
If it truly does help the majority though, then where's the issue.

I can imagine regulating such a manipulated market would be near impossible... so only really do-able in some mythical ideal scenario, of course.
Click to expand...

It doesn't help the majority. It doesn't help anyone. If something that is trusted by every bank (i.e. understood to be reliable and trustworthy), and is a major part of the basis of how all Banks gauge their consumer rates turns out to be, at best, "untrustable" then the banks will have to factor in the risk, which in short means they increase rates on lending, and decrease rates on savings.

However this comes out, the customer will suffer because of it. There is no "good fraud."

EDIT: You can also bet a large amount that they will be recuperating the "loss" from being fined in a similar manner.
 
Last edited:
1341933583232.gif
 
They made money by betting on the way labor would go and then set the rate themselves.

The real damage is trust in the system if you're not in the know and criminal charges if you are, expect a lot of money to haemorrhage away from London now.
 
Looks like we will never see prosecutions, supposedly the regulators were told never to prosecute anyone ever again.

Its at 15 mins

Talk about corruption, no wonder no one trusts or has any faith in the system anymore.
 
You must log in or register to reply here.
Back
Top Bottom