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Author Topic: [CNN Money] Six banks fined more than $4 billion in currency probe  (Read 1382 times)
alani123
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November 13, 2014, 04:53:33 AM
Last edit: November 13, 2014, 05:07:17 AM by alani123
 #1

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Six banks have agreed to pay $4.33 billion in fines to global regulators to resolve allegations that they attempted to manipulate foreign exchange rates.

http://money.cnn.com/2014/11/12/investing/banks-currency-fx-probe/index.html?hpt=hp_t2

Thoughts?



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November 13, 2014, 06:28:28 AM
 #2

Do they pay the fines with real money or just invent some like loans to repay Smiley... i've always wondered that.
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November 13, 2014, 11:17:24 AM
 #3

Do they pay the fines with real money or just invent some like loans to repay Smiley... i've always wondered that.

What bugs me most is that we don't know where exactly those fines are paid to and how are they going to fix any of potential the problems the banks caused by the price manipulations.



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H.W.Z
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November 15, 2014, 02:40:32 PM
 #4

The banks deserve it. But it will continue to happen if the centralized gov and bank system is still ruling us. No one is easy to resist the temptation.

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November 15, 2014, 05:24:36 PM
 #5

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Six banks have agreed to pay $4.33 billion in fines to global regulators to resolve allegations that they attempted to manipulate foreign exchange rates.

http://money.cnn.com/2014/11/12/investing/banks-currency-fx-probe/index.html?hpt=hp_t2

Thoughts?

Thoughts ? If they have been fined $4.33 billion, how much have they been into us for ? Does anybody know ?

How many billions in a trillion ?

Oh, BTW - one of the banks was RBS. RBS was kept afloat by the taxpayer - it was essentailly nationalised.

What a fuckin joke this farcical and corrupt excuse for democracy is turning out to be.
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November 15, 2014, 07:42:09 PM
 #6

Thoughts ? If they have been fined $4.33 billion, how much have they been into us for ? Does anybody know ?

How many billions in a trillion ?

Oh, BTW - one of the banks was RBS. RBS was kept afloat by the taxpayer - it was essentailly nationalised.

What a fuckin joke this farcical and corrupt excuse for democracy is turning out to be.

You know you can look up their profit/earnings, right? Like you can literally see if they were profitable, and how much, and where profit was made.
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November 15, 2014, 09:02:12 PM
 #7

Do they pay the fines with real money or just invent some like loans to repay Smiley... i've always wondered that.

What bugs me most is that we don't know where exactly those fines are paid to and how are they going to fix any of potential the problems the banks caused by the price manipulations.
The fines are paid to the governments to levied them. The money is not intended to fix any problems caused by the banks as is true for all other fines that are levied by the government.
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November 16, 2014, 07:47:33 AM
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It is possible that the banks and individual employees will also face criminal charges in both the U.K. and U.S. over attempts to manipulate the rates.

This might change things.
Fines wont.
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November 16, 2014, 07:55:33 AM
 #9

Do they pay the fines with real money or just invent some like loans to repay Smiley... i've always wondered that.

What bugs me most is that we don't know where exactly those fines are paid to and how are they going to fix any of potential the problems the banks caused by the price manipulations.
The fines are paid to the governments to levied them. The money is not intended to fix any problems caused by the banks as is true for all other fines that are levied by the government.

Banks make that kind of money back in about five seconds, best thing to do would be to hit them with a fine so hard they'd think twice about doing it again if it nearly bankrupts them.
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November 16, 2014, 11:15:29 AM
 #10

Do they pay the fines with real money or just invent some like loans to repay Smiley... i've always wondered that.

What bugs me most is that we don't know where exactly those fines are paid to and how are they going to fix any of potential the problems the banks caused by the price manipulations.
The fines are paid to the governments to levied them. The money is not intended to fix any problems caused by the banks as is true for all other fines that are levied by the government.

Banks make that kind of money back in about five seconds, best thing to do would be to hit them with a fine so hard they'd think twice about doing it again if it nearly bankrupts them.
I bet they pass the fine onto their customers in the form of rates. It really does nothing. I don't understand how we are held hostage to institutions like this nowadays. People don't think for themselves and believe all the bullshit and lies that banks and politicians tell them.

Think and act for ourselves is what we need to do rather than place blind faith in corporate morons to do the "right thing" by "us".

Altruism is bullshit fantasy story the corporates preach to us.... its only the little guys that actually follow through on it.
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November 16, 2014, 11:24:00 AM
 #11

Do they pay the fines with real money or just invent some like loans to repay Smiley... i've always wondered that.

What bugs me most is that we don't know where exactly those fines are paid to and how are they going to fix any of potential the problems the banks caused by the price manipulations.
The fines are paid to the governments to levied them. The money is not intended to fix any problems caused by the banks as is true for all other fines that are levied by the government.

Banks make that kind of money back in about five seconds, best thing to do would be to hit them with a fine so hard they'd think twice about doing it again if it nearly bankrupts them.
I bet they pass the fine onto their customers in the form of rates. It really does nothing. I don't understand how we are held hostage to institutions like this nowadays. People don't think for themselves and believe all the bullshit and lies that banks and politicians tell them.

That actually true, they do pass it on to customers, I remember reading a story awhile back about how they'd tweak the exchange rates randomly at times so that they could make an extra few million just because, it also reminds me of when Ben Bernanke practically threatened America by saying that, well I'll get the video.

https://www.youtube.com/watch?v=EHNuxBwpBpQ - He talks about how it would collapse the dollar if the fed was audited at around 1:37 so basically they have such a strangehold on the economy that the government couldn't even really do anything even if it wanted to because they'd end up taking the blame from stupid people that they caused the collapse.
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