The UK’s Serious Fraud Office (“SFO”) is now considering criminally charging traders implicated in the Libor interest rate rigging scandal, as it made an announcement today that it had begun its formal investigation. SFO’s director David Green accepted the matter for investigation after reviewing information provided by government regulators, and which took place after Barclays was fined some $450 million for its part in the Libor price fixing mafia syndicate. What’s more, this investigation will NOT JUST BE ABOUT BARCLAYS, as it will concern the wider market. Since Libor involves virtually every major Rothschild and Rockefeller banking cabal megabank, this can be quite the thorn in the side of the sociopaths.
“The issues are complex and the assessment of the evidence the FSA has gathered will take a short time, but we hope to come to a conclusion within a month,” the SFO had said on Monday.
In other words, the people are pissed off. They’ve been calling for the arrest of the bankers for years, and now we have a smoking gun – the big banks have literally stolen from everyone indirectly and directly, so that they can make a buck.
To corroborate and emphasize that the investigation is about the broader market and the other banks involved, including Barclays and that a “number of other significant cross-border investigations in this area” are currently being undertaken, according to Tracey McDermott, the acting director of the FSA.
Regarding Barclays in particular, the source article from the UK’s Guardian aptly wraps it up with Bob Diamond’s response with regard to criminal investigation:
“I understand that there will be follow-up criminal investigations on certain individuals … It’s not up to us, but we are certainly not going to stand in the way of it”.
Story is HERE.
This Libor fixing criminal conspiracy is not about the small town or regional banker that shakes hands with you, knows who you are personally and wants you to have an account with them, but about a small but incredibly wealthy and powerful core that has deliberately and knowingly engaged in theft for years, and are now trying every tactic they have to avoid prosecution and to prevent regular people from finding economic breathing room.
I sincerely hope our underfunded and sometimes bought regulators can bring a real action against the banks. Further, if the only thing that results is the arrest of a few mid level or junior traders, then all it will do is further inflame the population. People are now getting crash courses in bank manipulation, and they’re not waking up as very happy campers, as they’re realizing they’ve been robbed.
Nonetheless, this is not your ordinary covered up bank scandal with shill politicians backing up inaction. We now live in an era of leaks because whistleblowers have had enough, and I think they’re just as sick and fed up with this crap as the awakened people are. It’s my belief we’ve reached the point of no return, because we weren’t even supposed to look at Libor, and this rabbit hole goes very, very deep.
As for the targets of this investigation, traders are not enough, we all know that. The traders are the sacrificial lambs. Of course we want the traders that knew and relied on this information, but what we really want are the executives and upper management that are still walking around when they should be in cuffs.