Recorded telephone calls and e-mails reviewed by the Commodity Futures Trading Commission show that traders at Wall Street banks instructed ICAP Plc brokers in Jersey City, New Jersey, to buy or sell as many interest-rate swaps as necessary to move the benchmark rate, known as ISDAfix, to a predetermined level, according to a person with knowledge of the matter.
By rigging the measure, the banks stood to profit on separate derivatives trades they had with clients who were seeking to hedge against moves in interest rates. Banks sought to change the value of the swaps because the ISDAfix rate sets prices for the other derivatives, which are used by firms from the California Public Employees’ Retirement System to Pacific Investment Management Co., said the person, who asked not to be identified because the details aren’t public.
But Boobus Americanus simply will not rise in outrage over this.
Just like it hasn’t over the NSA getting not only your “metadata” but also the contents of everything you do, even though they claim they don’t. Then they lie about who was involved — both Federal and State authorities claimed they didn’t raid someone’s house over cooking supplies.
But someone did and they had badges, black SUVs and guns. Lots of guns. Isn’t it interesting that the agencies all claim they didn’t do it when clearly they did? Guns, black SUVs and badges don’t all vanish like a fart in the wind, you know.
And the reality is that “metadata” couldn’t have possibly given the government the information that they used as a predicate for that raid, nor is it likely there was a warrant either. If there was a warrant I want the Judge’s name who signed it and I’d like him to explain how those two Internet searches constitute probable cause.
So the government is lying.
Just like the banks have been lying.
When I started writing this blog in April of 2007 I did so because I noted claims by financial institutions, made under penalty of criminal law that they were correct, that the firm was “making money” it was never going to collect. It was a legal, but misleading, way of presenting “earnings.” And it deserved to be exposed.
That view was vindicated in 2007 and 2008 when it turned out that everyone was being less-than-honest about their financial status when it came to the value of what they allegedly “owned.”
But somehow, in the middle of this, Dancing With The Stars came on and — SQUIRREL!
Of course LIBOR was being rigged too, but nobody has gone to jail. SQUIRREL!
Snowden exposes the fact, long-known but incapable of raising outrage among Boobus Americanus, that the government is literally recording everything you do electronically. All of it. The government “denies” it but then days and weeks later it is proved they lied, as this recent “raid” shows. Never mind that the NSA would not need to build a huge data center to store everything that flows over the Internet if they were not intercepting it. But they are building that data center, you see. That’s a fact — the building is going up and it is being filled with computers and disk drives.
Where are the people who should be in the streets, calling general strikes and refusing to continue onward in their daily lives until this crap stops and the people responsible all go to prison?
But heh, it’s not just your freedom to look at a list of backpacks on the Internet. Oh no, it’s your money too. Your retirement. Your pension. The title to your home that has been intentionally clouded by a bunch of clowns who never transferred documents as they were supposed to and thus from a legal perspective you’re paying the wrong person and hoping — or is that praying — that when you’re all done the guy who owns the real indebtedness doesn’t decide he wants to get paid, effectively forcing you to pay twice.
I know, “that would never happen.” Just like it would “never happen” that a bank would foreclose on a property they never held the mortgage on, destroying the contents of the house and the people who did it wouldn’t be charged with burglary, breaking and entering and grand theft (of the contents.)
Oh wait — that’s happened too. More than once, including recently.
Where are the handcuffs and more to the point, where are the people who should be in the street, calling out general strikes and refusing to consent through silence to this sort of jackbooted crap?
Dancing with the Stars is on again…….