Deutsche Bank fined $2.5 bn for rigging key interest rates

"A Summary" – Apr 2, 2011 (Kryon channelled by Lee Carroll) (Subjects: Religion, Shift of Human Consciousness, 2012, Intelligent/Benevolent Design, EU, South America, 5 Currencies, Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Middle East, Internet, Israel, Dictators, Palestine, US, Japan (Quake/Tsunami Disasters , People, Society ...), Nuclear Power Revealed, Hydro Power, Geothermal Power, Moon, Financial Institutes (Recession, Realign integrity values ..) , China, North Korea, Global Unity,..... etc.) - (Text version)

“2011 and Beyond” - What you are seeing, and why - Jan 16, 2011 (Kryon channelled by Lee Carroll) - (Text version)

"The Timing of the Great Shift" – Mar 21, 2009 (Kryon channelled by Lee Carroll) - (Text version)

“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.
They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."

"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)

"The Recalibration of Awareness – Apr 20/21, 2012 (Kryon channeled by Lee Carroll) (Subjects: Old Energy, Recalibration Lectures, God / Creator, Religions/Spiritual systems (Catholic Church, Priests/Nun’s, Worship, John Paul Pope, Women in the Church otherwise church will go, Current Pope won’t do it), Middle East, Jews, Governments will change (Internet, Media, Democracies, Dictators, North Korea, Nations voted at once), Integrity (Businesses, Tobacco Companies, Bankers/ Financial Institutes, Pharmaceutical company to collapse), Illuminati (Started in Greece, with Shipping, Financial markets, Stock markets, Pharmaceutical money (fund to build Africa, to develop)), Shift of Human Consciousness, (Old) Souls, Women, Masters to/already come back, Global Unity.... etc.) - (Text version)

“… The Shift in Human Nature

You're starting to see integrity change. Awareness recalibrates integrity, and the Human Being who would sit there and take advantage of another Human Being in an old energy would never do it in a new energy. The reason? It will become intuitive, so this is a shift in Human Nature as well, for in the past you have assumed that people take advantage of people first and integrity comes later. That's just ordinary Human nature.

In the past, Human nature expressed within governments worked like this: If you were stronger than the other one, you simply conquered them. If you were strong, it was an invitation to conquer. If you were weak, it was an invitation to be conquered. No one even thought about it. It was the way of things. The bigger you could have your armies, the better they would do when you sent them out to conquer. That's not how you think today. Did you notice?

Any country that thinks this way today will not survive, for humanity has discovered that the world goes far better by putting things together instead of tearing them apart. The new energy puts the weak and strong together in ways that make sense and that have integrity. Take a look at what happened to some of the businesses in this great land (USA). Up to 30 years ago, when you started realizing some of them didn't have integrity, you eliminated them. What happened to the tobacco companies when you realized they were knowingly addicting your children? Today, they still sell their products to less-aware countries, but that will also change.

What did you do a few years ago when you realized that your bankers were actually selling you homes that they knew you couldn't pay for later? They were walking away, smiling greedily, not thinking about the heartbreak that was to follow when a life's dream would be lost. Dear American, you are in a recession. However, this is like when you prune a tree and cut back the branches. When the tree grows back, you've got control and the branches will grow bigger and stronger than they were before, without the greed factor. Then, if you don't like the way it grows back, you'll prune it again! I tell you this because awareness is now in control of big money. It's right before your eyes, what you're doing. But fear often rules. …”

"The Great Escape" - Mar 11, 2017 (Kryon Channelling by Lee Carroll)

“… The Fall of Many - Seen It Yet?

You are going to see more and more personal secrets being revealed about persons in high places of popularity or government. It will seem like an epidemic of non-integrity! But what is happening is exactly what we have been teaching. The new energy has light that will expose the darkness of things that are not commensurate with integrity. They have always been there, and they were kept from being seen by many who keep secrets in the dark. Seen the change yet?

In order to get to a more stable future, you will have to go through gyrations of dark and light. What this means is that the dark is going to be revealed and push back at you. It will eventually lose. We told you this. That's what you're here for is to help those around you who don't see an escape from the past. They didn't get their nuclear war, but everything else is going into the dumper anyway. … “

Thursday, April 23, 2015

Deutsche Bank fined $2.5 bn for rigging key interest rates

Yahoo – AFP, 23 April 2015

Deutsche Bank pleaded guilty to a US charge of wire fraud in connection

with the scam and admitted to participating in the price-fixing conspiracy

(AFP Photo/Daniel Roland)

New York (AFP) - German banking giant Deutsche Bank will pay a record $2.5 billion for rigging interest rates in a multi-bank conspiracy that undermined global financial markets, US and British authorities said Thursday.

"Deutsche Bank secretly conspired with its competitors to rig the benchmark interest rates at the heart of the global financial system," said US Assistant Attorney General Bill Baer of the Justice Department's antitrust division.

"Deutsche Bank's misconduct not only harmed its unsuspecting counterparties, it undermined the integrity and the competitiveness of financial markets everywhere."

Germany's biggest bank agreed to pay the record fine for manipulating the London InterBank Offered Rate, used to peg millions of interest rate-sensitive contracts and loans around the world, to boost its trading positions.

The Frankfurt am Main headquarters of

Deutsche Bank, which will pay $2.5 billion

in fines after admitting its guilt in a

multi-bank conspiracy to rig LIBOR

interest rates (AFP Photo/Daniel Roland)

Deutsche Bank's London subsidiary DB Group Services, where most of those who manipulated the rate worked, agreed to plead guilty to one US count of wire fraud in the case.

Deutsche Bank will pay a $775 million penalty to the Justice Department, the largest criminal penalty yet imposed in the LIBOR resolutions, and agreed to a corporate monitor, the first time that has been imposed.

The monitor is part of a US three-year deferred prosecution agreement in which Deutsche Bank admitted its role in rigging LIBOR and participating in a price-fixing conspiracy with other banks by rigging the Japanese yen LIBOR.

Deutsche Bank will continue to cooperate in the Justice Department's continuing investigation.

The deal allows Deutsche Bank to keep its operating license in the United States. The bank's New York branch has more than 1,700 employees and total assets exceeding $152 billion.

In addition, Deutsche Bank will pay $800 million to the US Commodity Futures Trading Commission, $600 million to the New York Department of Financial Services and $344 million to Britain's Financial Conduct Authority.

Deutsche Bank is the sixth bank to resolve LIBOR charges in the long-running US investigation into the scandal, which emerged in 2012 when Barclays was fined by US and British regulators for rigging the benchmark rates.

The bank's misconduct occurred from at least 2003 through early 2011, according to the Justice Department.

For Britain's Financial Conduct Authority, Deutsche Bank will pay a record fine of 227 million pounds for manipulation conducted between 2005 and 2010.

"Deutsche Bank’s failings were compounded by them repeatedly misleading us," said Georgina Philippou, the FCA's acting director of enforcement and market oversight.

Leslie Caldwell, the US assistant attorney general in charge of the criminal division, said that the bank's cooperation at the outset of the government's investigation was "not full and complete" but subsequently improved.

Damning exchanges

Internal communications -- in emails, telephone calls and electronic chats -- revealed how Deutsche Bank employees defrauded counterparties and conspired to manipulate rates.

A 2007 email showed a Deutsche Bank employee bragging about LIBOR manipulations by the Frankfurt and London offices to the head of the bank's global finance unit: "HAVE U SEEN THE 3MK FIXING TODAY? THAT WAS AN EXCELLENT CONCERTED ACTION FFT/LDN. CHEERS."

In a September 2006 exchange, the bank's London desk head pleads with an external banker at Barclays for a reduction in the EURIBOR rate, and apparently got it.

"I’m begging u, don't forget me… pleassssssssssssssseeeeeeeeee… I’m on my knees…," the desk chief wrote.

The external banker eventually agreed, "ok, I'm telling him."

Deutsche Bank said it would book an additional charge of 1.5 billion euros ($1.6 billion) in the first quarter for litigation costs related to the LIBOR case and other issues.

"We have disciplined or dismissed individuals involved in the trader misconduct; have substantially strengthened our control teams, procedures and record-keeping; and are conducting a thorough review of the bank's actions in addressing this matter," said co-chief executives Jurgen Fitschen and Anshu Jain in a statement.

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Thursday, April 23, 2015

Deutsche Bank fined $2.5 bn for rigging key interest rates

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