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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Challo Jeregy who wrote (13272)	7/23/2012 2:31:41 AM
From: John Pitera	4 Recommendations Read Replies (4) \| Respond to of 33421

The thing that will complicate a group settlement is that their are several regulators involved, the Financial Services Authority in the UK, the CFTC in the US for the banks that were manipulating the rate to profit on Eurodollar futures positions. The main obstacle facing such a group settlement is a hesitancy on the part of the investment banks to work together in the fevered atmosphere surrounding the Libor investigations. Negotiations and haggling could drag on for some time and a resolution was far from certain, the banker said. The fact that each bank possibly had to *settle with a different group of regulators, and that the charges were different in each case also made the chances of success of such a settlement small, a source at one of the banks being probed said. Obviously, the banks want to get this behind them as quickly as possible. I would also say that the Obama administration would like to see this "placed in the bottom drawer" and not talked about. Charles Reed made left this comment on the Washington Post site: So are we arresting Geithner & Dimon or is that to much Hope & Chage? The main regulator of these large banks in Geithner who did not see the housing crisis and when he was informed about the LIBOR in 2008 we are finally dealing with it in 2012 but he still got a job and President Obama who is usually full of words has not spoke about the rigging of something that effect over $300 trillion. So what a .25% makes $300 trillion? And we wonder why no prosecution of bankster in the housing crisis! Challo what I really want to know about is where the heck is the news and action on Former Goldman Sachs CEO Jon Corizine, who was the billionaire and both governor and Senator of New Jersey, and was a Uber Major* bundler for Obama. Corizine personally redirected (stole) several hundred million dollars of Segregated account customer money, just days before MF Global collapsed and the firm vaporized 1.6 billion dollars. He's right up their with Madoff and R. Allen Stanford and he's not under house arrest and drawing the huge media attention the aforementioned individuals have. where is the outrage and where is the media on this?............. MF Global Holdings, the New York-based brokerage run by former Goldman Sachs Group Inc. (GS) ( GS) Co-Chairman and New Jersey Governor Jon Corzine until he resigned Nov. 4, filed the eighth-largest U.S. bankruptcy after a $6.3 billion trade on European bonds led to margin calls. Simply Ludicrous....adjective. causing laughter because of absurdity; provoking or deserving derision; ridiculous; laughable: a ludicrous lack of efficiency. PFG Best..... aw heck that's for another post. Good Grief Charlie Brown. John