Bank of England officials told currency traders it wasn’t improper to share impending customer orders with counterparts at other firms, a practice at the heart of a widening probe into alleged market manipulation, according to a person who has seen notes turned over to regulators.
In other words The Bank of England allegedly knew and didn’t care that currency traders were price-fixing in the FX market.
And, of course, what’s even better is that the BOE had been claiming that “banking standards are improving” at the same time — you know, since ripping people off with hinky loans and derivatives deals was discovered on a world-wide basis.
Well, ok, maybe not discovered, seeing as that was known for a very, very long time.
It just finally drew someone’s attention when it blew up the financial world.
Anyone remember this?
And, of course, The Federal Reserve will not monetize the debt. (Ben Bernanke, Yellen and others.)
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