JPM and Barclays Get Libor Subpoenas [NotSoBreaking] - MarketTicker Forums


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User Info	JPM and Barclays Get Libor Subpoenas in forum [NotSoBreaking]
Argos Posts: 6338 Incept: 2008-03-23 The Green Mountain State	From BB Radio. There may be other banks served, I'm not sure. (No positions--might short BCS again.) Last modified: 2012-08-15 14:38:02 by argos 2012-08-15 14:37:34 Permalink
Argos Posts: 6338 Incept: 2008-03-23 The Green Mountain State	At the time the news broke, strong volume for RBS as well. 2012-08-15 14:45:17 Permalink
Argos Posts: 6338 Incept: 2008-03-23 The Green Mountain State	UBS has been subpoenaed as well. All according to a source and filings. BB coverage: http://www.bloomberg.com/news/2012-08-15.... Last modified: 2012-08-15 14:53:37 by argos Reason: accuracy 2012-08-15 14:52:49 Permalink
Patmcgroin Posts: 8223 Incept: 2007-09-12 Chicago	DB, RBS too ---------- "I know a few arcane, obscure financial acronyms that the general public doesn't know and that's about it." 2012-08-15 14:53:17 Permalink
Argos Posts: 6338 Incept: 2008-03-23 The Green Mountain State	I don't know if this is related, but the .IRX went spasmodic before the news broke, bouncing from 0.085% to 0.105% and back. It declined subsequently, closing at 0.080%. One way or another, it had a big range today. 2012-08-15 15:05:46 Permalink
Jubber Posts: 14174 Incept: 2007-07-05 UK	none of them are down? ---------- �The problem with socialism is that, sooner or later, you run out of other people�s money.� Thatcher 2012-08-15 15:10:46 Permalink
Peterm99 Posts: 4995 Incept: 2009-03-21 SoCal	The subpoenas might mean that this will be followed by criminal indictments. It could also mean that information about past practices is being compiled in order to provide TPTB with more background info to determine how the manipulations could be improved in the future to reduce the risk of detection. I'd guess that the outcome is more likely to be the latter than the former. ---------- ". . . the Constitution has died, the economy welters in irreversible decline, we have perpetual war, all power lies in the hands of the executive, the police are supreme, and a surveillance beyond Orwell�s imaginings falls into place." - Fred Reed 2012-08-15 15:17:17 Permalink
Genesis Posts: 130801 Incept: 2007-06-26	Hmmm...... I wonder if the TNX moves are related to this... ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2012-08-15 16:44:39 Permalink
Hogman Posts: 7874 Incept: 2008-02-18 Derby City, USA	And what will come of this? Track record says nothing, fine(s) at best 2012-08-15 16:50:15 Permalink
Patmcgroin Posts: 8223 Incept: 2007-09-12 Chicago	There is something "going on" in TY. The now-classic China, Bill Gross, etc, memes have resurfaced but there is more to this than a simple retracement- this pullback is structural and was (to some) telegraphed. Not that is long-lived, but some saw it coming. ---------- "I know a few arcane, obscure financial acronyms that the general public doesn't know and that's about it." 2012-08-15 22:28:38 Permalink
Genesis Posts: 130801 Incept: 2007-06-26	Yeah well if this is a precursor to a "lay up" trade with QE3 it will be interesting if Bernanke does it and the expected reaction doesn't occur..... ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2012-08-15 22:45:58 Permalink