Rigged: The Incredible True Story of the Whistleblowers Jailed after Exposing the Rotten Heart of the Financial System

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Rigged: The Incredible True Story of the Whistleblowers Jailed after Exposing the Rotten Heart of the Financial System

Rigged: The Incredible True Story of the Whistleblowers Jailed after Exposing the Rotten Heart of the Financial System

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Meanwhile, famous and powerful figures in the City and Whitehall who seem to have committed far worse offences, escaped unscathed. When PJ posted more realistic rates, however, it appeared as if Barclays was in trouble, so his bosses, reportedly under pressure from the Treasury and the Bank of England, insisted he post numbers that were “within the pack”. LOWBALLING was the real crime, and something that should be investigated/punished, but the big boys always have too much power and control over the government.

A new book, exclusively serialised in The Times, claims that investigating agencies, including the FBI in the United States and Britain’s financial regulator, were told in November 2010 of an international drive to get Libor and Euribor rates down, regardless of the real cost of borrowing cash. It is assumed the accusers, and the authorities took comfort that the falsely accused person went to heaven. Before 2017, the legal test for dishonesty under Ghosh required juries to consider whether the defendant was acting dishonestly according to the standards of ordinary reasonable people and whether the defendant realised that what they were doing was dishonest by those standards.

City Minister Andrew Griffith said he it would be a matter for the Treasury Committee to respond to. The Green Transition Weekly analysis of the shift to a new economy from the New Statesman's Spotlight on Policy team.

Were the rate rigging trials about law and the evidence, or were they show trials to appease public anger towards banks? To save themselves from collapse, nationalisation and loss of bonuses, banks instruct traders to manipulate Libor down - a criminal practice known as lowballing. The courts not allowing CRUCIAL pieces of evidence to be shown - evidence that would have completely blown their case?

Since being appointed economics correspondent in 2014, he’s broadcast and published high-impact investigative stories including a Panorama film which revealed the Bank of England’s role in the Libor scandal and a 2018 documentary exposing money laundering by a Ukrainian gangster, where he made headlines when one of the gangster’s thugs kicked him in the groin. Libor and Euribor rates were estimates that banks provided of the cost of borrowing money from each other, and that influenced interest rates for mortgages and loans. To save themselves from collapse, nationalisation and loss of bonuses, banks instruct traders to manipulate Libor down – a criminal practice known as lowballing. However, this emerging information about the possible scale of state involvement in Libor rigging begs the question as to whether anyone ought to have been prosecuted for Libor rate rigging if rate manipulation went right to the top, even far beyond the banks where they were working. A truly shocking story of collusion, conspiracy and cover up at the heart of our financial establishment that have led to grave miscarriages of injustice.



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