Banks Allegedly Rigged Sovereign Bonds, Because They Exist

Admit it: You’d almost be disappointed if they hadn’t.
By Nordenfan (Own work) [CC BY-SA 4.0], via Wikimedia Commons

By Nordenfan (Own work) [CC BY-SA 4.0], via Wikimedia Commons

It has become clear in the years since the Libor-rigging scandal broke that if something is at all susceptible to rigging or manipulation, some banker somewhere (probably Barclays) is going to try it. Euribor, electricity in California, copper, and that’s all just Barclays.

We don’t know if our ever-manipulative friends at the House of Staley were involved in some alleged funny stuff with sovereign bonds. There are four banks so accused by the European Commission, and only three have owned up to it (Crédit Agricole, Credit Suisse and, obviously, Deutsche Bank), so it’s still possible. So what crazy credit capers did these kids (possibly at Barclays) get up to?

The commission said that between 2009 and 2015 the four banks may have exchanged sensitive information and agreed on prices of U.S. dollar-denominated supra-sovereign, sovereign and agency bonds, known as SSA bonds. Those are issued by entities like the World Bank and European government agencies. Contact took place mainly through online chat rooms, it added.

Major Banks Suspected of Collusion in Bond-Rigging Probe [WSJ]


Photo: Getty Images.

Credit Suisse Basically Headquartered In Court These Days

It’s not like the bank’s got other pressing issues it needs to deal with now, right?

By Federal Bureau of Prisons ( [Public domain], via Wikimedia Commons

Probation Officials: Sure, Spoofing Is Illegal, But, Like, Not That Illegal

Certainly not prison illegal, really, if you think about it.

By Chris Potter (Flickr: 3D Judges Gavel) [CC BY 2.0], via Wikimedia Commons

Judges Say Prosecutors Can Spoof Spoofing Probes

At least, they say no one can question whether they’re doing it, which is just as good.

Play ball! (Again!) By Scott Thornbloom ( [Public domain], via Wikimedia Commons

Ex-Barclays Traders Get To Go To Court Again Over Alleged Libor-Rigging

Which is apparently the prize you win after an 11-week trial that ends without a verdict.

By Nordenfan (Own work) [CC BY-SA 4.0], via Wikimedia Commons

Deutsche Bank Still Doing Things Wrong Because It Takes Time To Stop Doing Things Wrong The Right Way

Going from "What's compliance?" to actual compliance could take at least a year.

(Getty Images)

First Installment of ‘Good News At Deutsche Bank’

John Cryan won't have to spend the bank's final few pfennigs on a class-action mortgage settlement.


Libor Payouts Will Never End But On The Bright Side Banks Hardly Notice Them Anymore

We presume at this point that even secretaries at Deutsche Bank are empowered to cut $80 million checks to make people/regulators go away.