Goldman Sachs Pays $120 million fine for alleged rate fixing
1,372 views · Published 21 December 2016 · 3:59 · Indexed 31 October 2026
Channel: The 2% Brief · 2016 · People & Blogs
http://illuminatisilver.com http://facebook.com/illuminatisilver Goldman Sachs Pays $120 million fine for alleged rate fixing Today is Wednesday 21st December 2016 and we are commenting on Goldman Sachs fine in relation to alleged rate fixing. Yes today appears to be the day when the banks cannot stay out of the headlines. Goldman Sachs has agreed to pay a $120 million penalty to settle the U.S. Commodity Futures Trading Commission’s allegations that its traders worked to “game” the ISDAfix benchmark rate in an effort to benefit the bank’s derivatives positions, the CFTC announced today. The CFTC claims Goldman Sachs, on a number of occasions between January 2007 and March 2012, attempted to manipulate the ISDAFIX and also made various false reports concerning the benchmark rate. The Goldman Sachs Group Inc. and Goldman Sachs & Co. will jointly pay the fine without admitting or denying the CFTC’s allegations. As well as the penalty, the CFTC has also ordered the bank to take steps to make sure it can better detect and deter trades intended to rig rates. A spokesperson for Goldman Sachs said: "We are pleased to have resolved these matters and have already taken steps to enhance our policies and procedures." Without appearing too technical, ISDAFIX rates are used to help value the cash settlement of options on interest rate swaps and other products. Pension funds and local governments often rely on products priced off the benchmark rate to help hedge against future interest rate changes. Once again we have witnessed nefarious activities carried out by certain large banks. Not Government controlled or directed but in the pursuit of gaining profit. Nevertheless, no-one is punished as it was determined more appropriate to accept a fine than to conduct a lengthy and expensive court case. A trend here is most certainly developing. Please view our latest videos: Too Big to Fail has become that little bit smaller. https://youtu.be/_gyCgt-ttTs World's oldest bank Banca Monte dei Paschi could run out of money soon https://youtu.be/XyNsPibg_UU Lagarde found guilty of negligence but is allowed to go Free https://youtu.be/9502GWBIvxE Why the Dollar won’t collapse on 31st December 2016 - Guaranteed https://youtu.be/XX4AHkvwHXM The various Uses of Silver Series - Jewellery https://youtu.be/y1y0GWlcs6U One hour left to enter our 2016 Gold and Silver Competition https://youtu.be/-Hl7XGe_gCk Why Foreign Currency Reserves Are Important – A Beginners Guide https://youtu.be/xjPlrI6AH7s Gold and Silver Update w/e 16th December 2016 https://youtu.be/ulTkoUYUoFA Ignore the Dollar Collapse Fear Mongering – Rants Illuminati Silver https://youtu.be/5iOG7-_vvF0 Gold nanotechnology and AMD - Blindness https://youtu.be/jNry9Q8aaQs Fed raises Rates - More to Come - Gold and Silver prices fall https://youtu.be/3NMz7kZf4eA Oil prices Jump 6% – Good News for Gold and Silver prices https://youtu.be/yEPyvytaV5Y Why is Donald Trump upsetting the Chinese Bear? https://youtu.be/tB_f9yO9KsI FED, Gold, Silver, Interest rates and Markets 2016 https://youtu.be/DhUGxJtDmiQ
More from this channel
-
5:02
Greek Debt Crisis Update - by Illuminati Silver
-
5:30
1000 You Tube Subscribers in 4 months - Thank You from Illuminati Silver
-
5:58
Why has the Gold Price Fallen Further? - by Illuminati Silver
-
6:47
Gold, Silver, Stock Market and Dollar Update 23rd Aug 2015 - Illuminati Silver
-
9:07
Harvey Organ - Playing the same tune or a misguided prophet?
-
7:43
IMF Issues warning to the FED over interest rates.
-
11:48
How to recognise a Gold and Silver Pumper - 9 Comments they usually make.
-
6:05
Is Carly Fiorina the 'Cracker to Crush the Trump Nut'?