'Dump Trump': Tens of thousands join global march

'Dump Trump': Tens of thousands join global march
Demonstrators arrive on the National Mall in Washington, DC, for the 'Women's March on Washington' on January 21, 2017 (AFP Photo/Andrew CABALLERO-REYNOLDS)

March for Science protesters hit the streets worldwide

March for Science protesters hit the streets worldwide
Thousands of people in Australia and New Zealand on Saturday kicked off the March for Science, the first of more than 500 marches around the globe in support of scienceThousands of people in Australia and New Zealand on Saturday kicked off the March for Science, the first of more than 500 marches around the globe in support of science

Bernie Sanders and the Movement Where the People Found Their Voice

"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.) -

“ … 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.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Hong Kong's grandpa protesters speak softly but carry a stick

Hong Kong's grandpa protesters speak softly but carry a stick
'Grandpa Wong' is a regular sight at Hong Kong's street battles (AFP Photo/VIVEK PRAKASH)
A student holds a sign reading "Don't shoot, listen!!!" during a protest
on June 17, 2013 in Brasilia (AFP, Evaristo)

FIFA scandal engulfs Blatter and Platini

FIFA scandal engulfs Blatter and Platini
FIFA President Sepp Blatter (L) shakes hands with UEFA president Michel Platini after being re-elected following a vote in Zurich on May 29, 2015 (AFP Photo/Michael Buholzer)
"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. …

Wall Street's 'Fearless Girl' statue to stay until 2018

Wall Street's 'Fearless Girl' statue to stay until 2018
The " Fearless Girl " statue on Wall Street is seen by many as a defiant symbol of women's rights under the new administration of President Donald Trump (AFP Photo/ TIMOTHY A. CLARY)

“… 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. … “

Search This Blog

Monday, August 3, 2015

British trader jailed for 14 years for rigging Libor rates

Yahoo – AFP, Alice Ritchie, 3 August 3, 2015

British trader Tom Hayes leaves Southwark Crown Court in London,
on July 31, 2015 (AFP Photo/Niklas Halle'n)

London (AFP) - A British trader was jailed Monday for 14 years for rigging the Libor lending rate while working for UBS and Citibank, in a landmark conviction the judge said would send a message to the banking world.

Tom Hayes, 35, is the first person to be found guilty by a jury of rigging the benchmark inter-bank lending rate, a key reference for financial products around the world from consumer loans to savings accounts.

"The conduct involved here must be marked out as dishonest and wrong and a message sent to the world of banking accordingly," judge Jeremy Cooke told Hayes as he sentenced him at London's Southwark Crown Court.

Hayes had denied eight counts of 
conspiracy to defraud between 2006
 and 2010, when he worked for Swiss
 bank UBS and its US rival Citigroup
(AFP Photo/Carl Court)
Many of the world's top banks have been hit by scandals over the rigging of the Libor rate, which is estimated to underpin some $500 trillion of contracts.

Following his arrest in December 2012, Hayes admitted his crimes to Britain's Serious Fraud Office (SFO) in a bid to avoid extradition to the United States, where he also faces charges.

However, he later pleaded not guilty, insisting his actions were "commonplace" in the banks.

Cooke said the fact that others were doing the same was "no excuse", saying Hayes played a "leading role" in exerting pressure on and training colleagues in how to rig the rates, and making corrupt payments to brokers for their help.

The manipulation required "sophistication and planning" during more than three years at Swiss bank UBS and nine months at US rival Citigroup, both in Tokyo, the judge said.

"You, as a regulated banker, succumbed to temptation in an unregulated activity because you could," he said, adding that Hayes was motivated by money.

Hayes stared ahead, emotionless, as the court heard the jury had found him guilty on eight counts of conspiracy to defraud between 2006 and 2010. His wife and parents sat in court with bowed heads.

He must serve half of his 14-year sentence in jail, and the rest on conditional release.

'Probity, honesty are essential'

The London interbank offered rate -- Libor -- is calculated daily using estimates from banks of their own interbank rates.

However, the system has been found to be open to abuse, with some traders lying about borrowing costs to boost trading positions or make their bank seem more secure.

Banks including Barclays, UBS, Royal Bank of Scotland and Deutsche Bank have been fined billions of dollars for manipulating the rates.

In the first criminal conviction arising from a British investigation into Libor, a top banker pleaded guilty in October to manipulating rates. The individual and their employer cannot be named for legal reasons.

In the United States, two former traders at Dutch bank Rabobank have also pleaded guilty to manipulating Libor.

"The reputation of Libor is important to the City as a financial centre and of the banking industry in this country," the judge told Hayes in London.

"Probity and honesty are essential, as is trust which is based upon it. The Libor activities, in which you played a leading part, put all that in jeopardy."

British trader Tom Hayes (R) arrives at Southwark Crown court with
his wife Sarah in London on July 27, 2015 (AFP Photo/Leon Neal)

Entire industry 'complicit'

Hayes joined UBS in Tokyo in 2006, where he was paid a salary of £1.3 million ($2 million, 1.85 million euros) before tax.

He then moved to Citigroup, where he earned £3.5 million before tax for nine months' work before being sacked for "compliance" issues.

He worked as a trader in yen Libor derivatives, betting on movements of the daily rate. The judge had previously described him as "by nature a gambler".

Hayes was diagnosed with Asperger's Syndrome before the trial, but the judge said this was of "no relevance to the issue of dishonesty".

Ben Rose, a partner at law firm Hickman and Rose with experience in the financial services industry, said the conviction was a boost for the SFO which had "a number of other Libor cases in the pipeline".

However, he said it emphasised how "odd" it was that no institutions have been prosecuted for their role.

"When an entire industry... is complicit in a practice it can seem very harsh to pick off isolated individuals," he said.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.