February 2016
Beginner to intermediate
384 pages
9h 55m
English
The financial world was shaken by another major scandal in 2014. It included a couple of the banks that had been involved in the earlier Libor scandal, and some new ones. Barclays, Citigroup, JPMorgan Chase, and the Royal Bank of Scotland pleaded guilty to rigging the price of foreign currencies and were fined more than $2.5 billion. Within a year these four banks, plus one other, UBS, would be fined an additional $1.6 billion, along with another $1.3 billion in the case of Barclays, to settle related claims.1
Since 2007, the banks had operated what some of their members referred to as “the Cartel.” Among ...
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