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Forum Post: "JUST BE CAREFUL DUDE": Traders at UBS chat about rigging global interest rates for personal gain

Posted 1 year ago on Dec. 19, 2012, 2:09 p.m. EST by toobighasfailed (117)
This content is user submitted and not an official statement

News from this morning says that UBS has been fined $1.5B after regulators uncovered over 2,000 instances of 45 different traders and executives manipulating global interest rates. Their own words ("JUST BE CAREFUL DUDE") speak to their guilt. Two former employees were charged with crimes.

I just created an image this morning to capture some of the most egregious clips from their chats:

http://www.switchyourbank.org/justbecarefuldude

And here are two articles about the UBS stuff:

http://www.bbc.co.uk/news/business-20781763

http://online.wsj.com/article/SB10001424127887324407504578188342618724274.html

6 Comments

6 Comments


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[-] 1 points by shooz (26675) 1 year ago

These are the kinds of conversations that go on all day, every day, in board rooms all over the World.

Most pay dearly to keep us from hearing it.

Welcome to the neolibe(R)tarian reality, where even your "right" to privacy can and will be used against you.

[-] 0 points by VQkag2 (16478) 1 year ago

Wall st criminal bastards. Jail time is what we need for these corp 1% oligarchs. See how quick we see a change in behavior.

[-] 1 points by toobighasfailed (117) 1 year ago

Yeah, it's crazy that they have record of 45 individuals doing this and other illegal stuff, but only 2 go to jail...

[-] 0 points by VQkag2 (16478) 1 year ago

2? wow that's more than usual. Probably little guys that didn't quite tow the corp line. Certainly not the big guys.

[-] 1 points by toobighasfailed (117) 1 year ago

Yeah, they were guys who'd already gotten fired before all this went down—sacrificial offerings.

[-] 1 points by VQkag2 (16478) 1 year ago

Sounds like it. Not enough!!! The justice gods are not satiated by these woefully small sacrificial offerings.

They will have to try again.