The five biggest banks, Citigroup, JP Morgan Chase, Barclays, The Royal Bank of Scotland, and UBS, have all pleaded guilty to multiple crimes involving foreign currencies, interest rates, and collusion. The traders, according to the New York Times, had formed a, quote, an invitation-only club where the stakes were so high that newcomers were warned: mess this up, and sleep with one eye open. The pleas are expected to be heard this afternoon in federal court. Joining us now from Sag Harbor, New York to discuss all of this is James S. Henry. James is a leading economist, attorney, and investigative journalist.
They all rigged the foreign exchange markets and more. Check out what CHASE posted on their site.
We added markup to price quotes using hand signals and/or other internal arrangements or communications. Specifically, when obtaining price quotes for bids or offers from the Firm, certain clients requested to be placed on open telephone lines, meaning the client could hear pricing not only from a salesperson, but also from the trader who would be executing the client’s order. In certain instances, certain of our salespeople used hand signals to indicate to the trader to add markup to the price being quoted to the client on the open telephone line, so as to avoid informing the client listening on the phone of the markup and/or the amount of the markup. For example, prior to agreement between the client and the Firm to transact for the purchase of €100, a salesperson would, in certain instances, indicate with hand signals that the trader should add two pips of markup in providing a specific price to the client (e.g., a EURUSD rate of 1.1202, rather than 1.1200) in order to earn the Firm markup in connection with the prospective transaction.
We use some of these banks and the services are terrible, the bankers we work with aren’t at fault, this is a deeper issue, there is no consequences to any actions.
Stop breadboarding and soldering – start making immediately! Adafruit’s Circuit Playground is jam-packed with LEDs, sensors, buttons, alligator clip pads and more. Build projects with Circuit Playground in a few minutes with the drag-and-drop MakeCode programming site, learn computer science using the CS Discoveries class on code.org, jump into CircuitPython to learn Python and hardware together, TinyGO, or even use the Arduino IDE. Circuit Playground Express is the newest and best Circuit Playground board, with support for CircuitPython, MakeCode, and Arduino. It has a powerful processor, 10 NeoPixels, mini speaker, InfraRed receive and transmit, two buttons, a switch, 14 alligator clip pads, and lots of sensors: capacitive touch, IR proximity, temperature, light, motion and sound. A whole wide world of electronics and coding is waiting for you, and it fits in the palm of your hand.
Have an amazing project to share? The Electronics Show and Tell is every Wednesday at 7:30pm ET! To join, head over to YouTube and check out the show’s live chat – we’ll post the link there.
Join us every Wednesday night at 8pm ET for Ask an Engineer!
Maker Business — Robotics manufacturer Anki is stripped for parts
Wearables — Form a flame
Electronics — Lead-free Soldering Temperature
Biohacking — Vitamin-C + Gelatin for Accelerated Recovery
Python for Microcontrollers — See you at Supercon, Python #2 language on GitHub and more! #Python #Adafruit #CircuitPython #PythonHardware @circuitpython @micropython @ThePSF @Adafruit
Adafruit IoT Monthly — Helping Harry's Heart, CircuitPython meets AWS IoT and more!
Microsoft MakeCode — Lenticular Art Display with Crickit
No comments yet.
Sorry, the comment form is closed at this time.