Big Banks Fined* For Rate-Rigging Scandal | *Slapped On Wrist
Published on Dec 8, 2013
"EU antitrust regulators vowed to keep investigating rate- rigging on Wednesday as they slapped a record 1.7 billion euro ($2.3 billion) penalty on six financial institutions including Deutsche Bank, RBS and JPMorgan.
The fines by the Commission, which along with authorities around the globe has been examining the manipulation of London interbank offered rate (Libor) and its euro equivalent Euribor, takes the tally of penalties related to the scandal to almost $6 billion.
Confirming what a source familiar with the matter had previously told Reuters, EU Competition Commissioner Joaquin Almunia said he had been shocked at the scale of the scam and was sending a clear message that Brussels would fight and impose sanctions on cartels.”* The Young Turks host Cenk Uygur breaks it down.
*Read more here from Foo Yun Chee / Reuters:
U.S. soldiers pose over a mass grave trench with some of the 300 bodies of innocent Native American Lakota Sioux, two-thirds women and children, massacred at Wounded Knee, Pine Ridge Reservation. One of the few survivors of the massacre was a baby girl, found 4 days after the massacre, lying beneath her mothers dead frozen body, her mother having protected her in death as she had in life. The baby girl, having survived the massacre and the blizzard with temperatures at 40 below zero, was then abducted by Brigadier General Colby as a trophy of the massacre, in his own words “a most interesting Indian relic”.