Tuesday, July 16, 2013

167 Barclays caught red handed in the US

Benfiquista

O Banco Barclays a manipular e em grande gozo com o  preço da energia na Califórnia.  Pensavam que andavam a brincar na City em Londres onde governo e banca são todos da mesma raça assaria e comem todos da mesma panela. Lixaram-se. 

Você não brinca com os Americanos, e se pensa o contrário you´re up for a rough ride! Os Americanos espetaram-lhe com uma coima bem salgadinha: $435.000 dólares!   Os barclays fat cats não concordam e vão recorrer. Pois que recorram ou corram dali para fora antes de deixarem lá o cu das calças!  

Mas quando é que esta gente da banca agarra juízo na bola! Nunca! O sistema produz este tipo de gente, assim como  o estrume produz moscas e sabemos lá que mais! Assim vai o mundo, gerido por  cartéis manipuladores e criminosos: só esquemas maquiavélicos!



Barclays fined $435m in US over energy market-rigging

Barclays and eyeUS regulators say Barclays manipulated electric energy markets
US regulator the Federal Energy Regulatory Commission has fined Barclays $435m (£287m) for manipulating energy markets in California and other states from November 2006 to December 2008.
Barclays and four of its traders must also pay $34.9m to the Low-Income Home Energy Assistance Programs of Arizona, California, Oregon, and Washington.
They have 30 days to pay the fine.
Barclays has said it will fight the charges.
"We are disappointed by the action that FERC took today. We believe the penalty assessed by the FERC is without basis, and we strongly disagree with the allegations made," said Barclays in a statement.
"We intend to vigorously defend this matter."
'Crazy - I love it'
In addition to the company fine, Barclays traders Daniel Brin, Scott Connelly, Karen Levine and Ryan Smith - who are accused of manipulating an index relating to electric energy prices in the western part of the US - were ordered to pay substantial sums.
Mr Connelly must pay $15m, while Mr Brin, Ms Levine and Mr Smith were told they owed $1m each.
Regulators relied on electronic communication between the traders to build their case.
In a series of electronic messages, according to the FERC complaint, the traders boasted of their ability to manipulate markets.
In an email exchange, one of Mr Connelly's colleagues asks: "You going to have fun with the index all month?" and in another, Mr Connelly responds to details of market volatility with: "Crazy - I love it."
One exchange, dubbed the "Friday burrito incident" in the report, is singled out for particular mention.
The FERC alleges that Mr Connelly sought to deliberately misdirect a staff member of the Western Power Trading Forum, who published an energy newsletter called the Friday Burrito.
The FERC alleges that Mr Connelly responded to an article noting unusual patterns of trading with a seemingly innocuous explanation denying manipulation and told the publisher to "embrace the change." Mr Connelly then allowed his response to be published anonymously.
All four traders have left the firm.
Reputational blow
The FERC had initially levelled the charges against Barclays in October 2012.
This is the latest scandal to rock the bank.
Chief executive Bob Diamond resigned last year after Barclays was fined £290m by UK and US regulators for rigging the key Libor interest rate.

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