Barclays’ Libor Scandal: Prison Will Remedy

Tony Gosling tony at cultureshop.org.uk
Tue Jul 3 13:00:11 BST 2012


Barclays’ Libor Scandal: Prison Will Remedy
Larry Doyle, Sense on Cents | Jul. 2, 2012, 7:11 AM | 28 |
http://www.businessinsider.com/barclays-libor-scandal-prison-will-remedy-2012-7 

http://www.911forum.org.uk/board/viewtopic.php?p=161457#161457

Many executives on Wall Street and in The City, 
London’s central business district, have reason 
to be VERY NERVOUS this morning.
Their sweaty palms have nothing to do with the 
ongoing crisis in Europe or this week’s likely 
weak employment report here in the United States. 
The nerves have everything to do with the fallout 
from the Libor-manipulation story that has been 
centered on Barclays but likely encompasses every 
major bank in the global markets.
The industry would like to take one large broom 
and sweep this story back under the rug. The 
weekend ‘execution’ of Barclays chairman Marcus 
Agius is an attempt to do just that.
This Libor intrigue is only the latest of the 
financial industry’s market manipulation schemes. 
What do people think was going on in the 
auction-rate securities markets? How about the 
daily trading within the equity markets?
Manipulating markets has gone on for ages. As a 
resident member of the Sense on Cents Hall of 
Fame shared with us a few years back, “markets don’t go up, they’re put up.”
How and why do these manipulative behaviors 
persist? Very simply. The benefits accrued from 
the manipulation far outweigh the costs imposed. 
What are the costs? Simple fines. These fines — 
even exceptionally large fines — are the real 
payoff of the captured self-regulatory system 
that operates on both sides of the pond.
Self-regulation of the financial industry DOES NOT WORK.
When will market manipulation stop? When the penalties imposed fit the crimes.
Instead of Barclays chairman Marcus Agius merely 
stepping down in very unceremonious fashion, what 
if he and his sidekick Barclays CEO Bob Diamond 
and other executives within Barclays privy to the 
manipulation faced hard time?
The captured regulators do not get this but the 
public certainly does as highlighted by the Wall Street Journal in writing,
The U.K. government, along with the Financial 
Services Authority and the Bank of England, has 
been reviewing the regulation and supervision of 
Libor since March of this year.
Business Secretary Vince Cable said there should 
also be a criminal investigation into the Libor-fixing scandal.
“[The public] just can’t understand why people 
are thrown into jail for petty theft and these 
guys just walk away having perpetrated what looks 
like conspiracy,” Mr. Cable told Sky television Sunday.
So how do we stop the market manipulation? Only 
when the following sound resonates for all to hear:
If you agree with my assessment, please state as 
much and share this story with your friends and colleagues.
Navigate accordingly.
Larry Doyle

Larry Doyle was formerly the National Sales 
Manager for securitized products at JP Morgan.


ISN’T IT TIME to subscribe to all my work via 
e-mail, an RSS feed, on Twitter or Facebook?

I have no affiliation or business interest with 
any entity referenced in this commentary. The 
opinions expressed are my own. I am a proponent 
of real transparency within our markets so that 
investor confidence and investor protection can be achieved.
--
+44 (0)7786 952037
http://groups.google.com/group/uk-911-truth
http://www.youtube.com/user/PublicEnquiry
http://groups.yahoo.com/group/Diggers350/
http://www.reinvestigate911.org/
http://www.thisweek.org.uk/
http://www.911forum.org.uk/
"Capitalism is institutionalised bribery."
_________________
www.abolishwar.org.uk
www.globalresearch.ca
www.public-interest.co.uk
www.radio4all.net/index.php/series/Bristol+Broadband+Co-operative
www.facebook.com/media/set/?set=a.1407615751783.2051663.1274106225&l=90330c0ba5&type=1
<http://utangente.free.fr/2003/media2003.pdf>http://utangente.free.fr/2003/media2003.pdf 

"The maintenance of secrets acts like a psychic 
poison which alienates the possessor from the community" Carl Jung
<https://217.72.179.7/members/www.bilderberg.org/phpBB2/>https://217.72.179.7/members/www.bilderberg.org/phpBB2/

Fear not therefore: for there is nothing covered 
that shall not be revealed; and nothing hid that 
shall not be made known. What I tell you in 
darkness, that speak ye in the light and what ye 
hear in the ear, that preach ye upon the housetops. Matthew 10:26-27

Die Pride and Envie; Flesh, take the poor's advice.
Covetousnesse be gon: Come, Truth and Love arise.
Patience take the Crown; throw Anger out of dores:
Cast out Hypocrisie and Lust, which follows whores:
Then England sit in rest; Thy sorrows will have end;
Thy Sons will live in peace, and each will be a friend.
http://tinyurl.com/6ct7zh6  
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <https://mailman.gn.apc.org/mailman/private/diggers350/attachments/20120703/709c4a82/attachment.html>


More information about the Diggers350 mailing list