Forex-Rigging Fines Could Hit $41 Billion Globally

Banks could have to pay as much as $41 billion globally to settle probes into allegations traders rigged benchmarks in the currency markets,Citigroup Inc. (C) said today.

Deutsche Bank AG (DBK) is seen as probably the “most impacted” with a fine of as much as 5.1 billion euros ($6.5 billion), Citigroup analysts led by Kinner Lakhani calculated, estimating the Frankfurt-based bank’s settlements could reach 10 percent of its tangible book value, or its assets’ worth.

Using similar calculations, Barclays Plc (BARC) could face as much as 3 billion pounds ($4.8 billion) in fines and UBS AG (UBSN) penalties of 4.3 billion Swiss francs ($4.6 billion), they wrote in a note first sent to clients on Oct. 3.

Authorities around the world are scrutinizing allegations that dealers traded ahead of their clients and colluded to rig currency benchmarks. Regulators in the U.K. and U.S. could reach settlements with some banks as soon as next month, and prosecutors at the U.S. Department of Justice plans to charge one by the end of the year, people with knowledge of the matter have said.

Spokesmen for Deutsche Bank, Barclays and UBS declined to comment on the Citigroup estimates.

The Citigroup analysts made their calculations using a Sept. 26 Reuters report that the U.K. Financial Conduct Authority settlements could include fines totaling about 1.8 billion pounds. They derived their estimates for how high fines could go in other investigations from that baseline, using banks’ settlements in the London interbank offered rate manipulation cases as a guide.

“Extrapolating European and, more importantly, U.S. penalties from a previous global settlement suggests to us a total potential global settlement on this key issue,” they said in the note.

Cooperation Rewards

U.K. authorities will probably account about $6.7 billion of fines across all banks, according to the Citigroup analysts. Other European investigations will account for $6.5 billion. Penalties in the U.S. cases could be about four times greater, hitting $28.2 billion.

The Citigroup analysts didn’t take into account the possible effect of banks’ collaboration with investigators. That can have a big impact on the size of the fines, lowering and even wiping out a penalty in some cases.

UBS and Barclays saw $4.3 billion worth of antitrust fines waived by European Union authorities in December in exchange for their early and full cooperation. Six others were fined 1.7 billion euros in that case, which involved rigging euro and yen interest rate derivatives.

UBS has sought leniency in exchange for handing over evidence of misconduct to U.S. antitrust investigators in the foreign-exchange probes, and was also the first to step forward to cooperate with the EU, people with knowledge of the matter have said.

To contact the reporter on this story: Richard Partington in London at rpartington@bloomberg.net

To contact the editors responsible for this story: Simone Meier at smeier@bloomberg.net Heather Smith, Edward Evans

Source.

JP Morgan Bankruptcy Lawyer Killed in Hit & Run [video]

Joseph Giampapa

Thanks, Patrick.

They just never give up, do they?  Isn’t this over thirty banksters, now? I’ve lost count. And each time the cabal collects on the insurance? Nice scam.

Looks like JP Morgan is determined to stay in the lead.

The moral of this story: “Thou Shalt Not Squeal”.  ~ BP

 

The banker suicide saga has just reached a new level as a top level JP Morgan attorney has been exterminated in a hit & run incident involving a minivan.

JPM attorney Joseph Giampapa was killed over the weekend when he was struck by a minivan in a hit and run incident.

Giampapa was reportedly hit and thrown 150 ft and was pronounced dead at the scene. No charges have been filed.

It gets better: Giampapa was JP Morgan’s top commercial bankruptcy lawyer (SVP).

Somehow we suspect the incident was not inflicted by a soccer mom.

 

The JP Morgan outside counsel manual, listing Giampapa as their Commercial Bank Bankruptcy SVP:

Commercial Bank Bankruptcy & Workout
Joseph Giampapa, SVP and Associate General Counsel
(614/248-6056)

http://www.jpmorganchase.com/corporate/Home/document/Annex_I_US_BasedGeneralCounselPracticeGroupsandManagers_7012013.pdf

Giampapa’s legal profile:

http://www.martindale.com/Joseph-A-Giampapa/1445173-lawyer.htm

The Columbus Dispatch’s coverage of the incident:

http://www.dispatch.com/content/stories/local/2014/03/23/cyclist-56-struck-by-minivan-in-piqua.html

Recall that Jim Willie informed SD readers several weeks ago that international bankers are dropping like flies to prevent details on massive FOREX fraud from reaching investigating authorities, and that European banking source “V” stated that the banker hit list includes top level banking executives, and also stated that suicided JP Morgan bankers Ryan Henry Crane & Gabriel Magee knew each other and had uncovered something.

Joseph Giampapa JP Morgan

Perhaps Giampapa had also uncovered too many secrets.

AMTV’s take on the increasing banker deaths:

 

Source

 

Another Banker Jumps to Her Death April 22nd [videos]

Are all these bankers jumping? Or were they actually suicided? If they jumped, they must be under mind control—a self-destruct element involved to effectively shut them up if the need arose with no clues as to who was involved. Classic Illuminati signature.

And this continues to happen while the Illuminati negotiate for their future? I wouldn’t negotiate with terrorists and murderers.  Just sayin’.  ~ BP

‘Open season on bankers’ continues today after a 52-year-old French banker jumped to her death after ‘questioning her superiors’. We strongly doubt that the Bred-Banque Populaire has video surveillance footage to prove this was actually a jumper and not someone being ‘helped’ off the 14th floor after confronting her superiors; and what was it she confronted her superiors about that so suddenly caused her to take a flying leap? Susan Duclos reported this morning that a Chinese banker had also been found dead. Needless to say, we were warned months ago by ‘V the Guerrilla Economist’ that ‘loose ends needed to be tied up’.: (3 Video reports also below include a brand new rundown on all the dead bankers!)

Steve, this is to let everyone know that the recent string of “suicides” among bankers is a purge a tying up of loose ends. The most recent being the exec over at Deutsche Bank and the exec at JPM who took a leap off the “33″ floor of their London HQ.

These individuals were assassinated and there will be many more to come. Some you will hear as “suicides” others won’t even make it to main stream media. This recent purge centers around the corruption and scandals of the derivative markets, LIBOR and the blantant fraud in precious metals!!!

This is the final year for sure as the house is being swept!!! Be prepared.

“V” The Guerilla Economist
 
Jan 29, 2014

Videos below where Karen Hudes, Christopher Greene and others give their own opinions on the rapidly growing list of dead in the banking world. The 1st video is an excellent round-up of allegedly 30 dead bankers in a newly released video report from notregme.

There have been 13 senior financial services executives deaths around the world this year, but the most notable thing about the sad suicide of the 14th, a 52-year-old banker at France’s Bred-Banque-Populaire, is she is the first female. As Le Parisien reports, Lydia (no surname given) jumped from the bank’s Paris headquarters’ 14th floor shortly before 10am. FranceTV added that sources said “she questioned her superiors before jumping out the window,” but the bank denies it, noting that she had been in therapy for several years.

FranceTV and Le Parisien reports,

An employee of the Bred-Banque Populaire has committed suicide, Tuesday, April 22 in the morning at the headquarters of the bank. On her arrival at headquarters, quai de la Rapee, in the 12th arrondissement of Paris…

The incident occurred shortly before 10 am, 200 meters from the Ministry of Finance.

According to our sources, she questioned his superiors before jumping out the window, that formally denies the direction of the Bank.

 

 

Source

 

More Details on the Currency Reval & Financial Reset; Sounding Good!

More and more intel like this is coming out so it sounds like it could really be about to happen.

The following is a long post, beginning with a message from Poofness, then ZAP!,  followed by a lot more that I think you’ll want to see, so please finish reading at All About 2012 where Lightworker 29501 has the complete article. Fingers crossed!  ~ BP

Greetings and Salutations:

Poof said:

I would like to make it clear that losing faith at this time is inappropriate? Don’t let go after hanging this line; Just say little and watch. Watch and be aware and be ready to do the wise, aware, and professional things that will be needed. The world is a lot more chaotic than you would know at this point. Just remember that chaos does lead to breakdowns and as you spiritual types know breakdowns lead to breakthroughs and so being aware of that you don’t get so caught up in the feeding frenzies that go on. Steer clear and keep your own counsel. It helps to recall that your investment in this is minimal, always has been. Well not for everyone but for most. If you view it that way then you can also entertain the idea that you’ve lost a lot more money in the stock market or the Forex or currencies or the casinos than you’ve ever put into this investment. So why would you lose faith now? Choose to step back and be objective and also use your instincts to see that none of this would be happening today if it were not viable and real and has something to offer. If it had been a scam or a scheme, there would have been far more monies extracted and the game would have been over. That has not happened. My family’s needs and my own have required your support; I choose to keep the communication lines open not just daily but hourly at times and handled more phone calls in a week than the average reader could ever have given thought. Why? Because like you we thought this world changing maneuver was going to happen long ago. And it could have. It should have. It did not but i also knew enough to know that it was destined to happen. No, I cannot tell you why I knew that at this time. The day will come when I will. But pick up the butt, get the faith back in place and realize you are going to be blessed beyond your wildest imagination. Most have misplaced their dreams. Time to pull those back up and rework them.

ZAP SAYS:

HI ALL

MANY EVENTS HAVE TRANSPIRED, AND ARE CONTINUING TO HAPPEN AS WE SPEAK THIS WEEKEND. THERE ARE MAJOR MEETINGS ONGOING WITH THE FAMILY, GOVERNMENTS, REGULATORY AGENCIES, INSTITUTIONS, BANKS, AND THE OCCASIONAL WAFFLE HEADS FROM THE CABAL. THEY ARE NOT HANDING OUT FLUFFY TOYS.

THESE MEETINGS MEAN EVERYTHING TO THE WORLD AND OUR HUMANITY.

THEY ARE THE FINAL STEPS IN THE ESTABLISHMENT AND DEPLOYMENT OF THE DIVINE PLAN FOR OUR HUMANITY THAT WAS DEVELOPED SO LONG AGO.

ALTHOUGH I KNOW MANY DETAILS OF THIS DEPLOYMENT AND THE SECRET STUFF SURROUNDING THE MEETINGS, THERE IS NOT THAT MUCH I CAN SAY AS THE SENSITIVITY HERE IS SO GREAT THAT ANY CHINK IN THE ARMOR MAY BE TAKEN ADVANTAGE OF AND THE PROCESS DELAYED. SO I WILL SPEAK ONLY IN GENERAL TERMS AND HOPE YOU UNDERSTAND THE NEED FOR THIS SECRECY.

ANOTHER SITE HAS GOOD INFORMATION, AND THAT IS THE HTTP://S3ALPHA.NET FOLKS. THEY ACTUALLY POSTED THIS INFO:

PER CONVERSATION WITH BOND BROKERS & GLOBAL DEPOSITORY INSTITUTION FACILITATORS, INSTITUTIONAL INVESTORS, GLOBAL CLEARING HOUSES, TIER 1 TRADING DESKS, AGENCIES, AND CME CONTACTS, THE WIRE TRANSFERS FOR THE BONDS HAVE STARTED AND THE RATES ON THE IRAQ BONDS IS AT $3.71 AS OF TODAY.
THE IRAQ PRIVATE BOND SALE HAS BEEN COMPLETED, AND THE RATES, TERMS, AND INTEREST IS FIXED, LOCKED AND CAN NOT BE CHANGED OR MANIPULATED VIA SEC GUIDELINES AND REGULATIONS, IE FOREX PROBE (GLOBAL CURRENCY MANIPULATION) GLOBAL SYSTEM STABILIZATION & SECURITY IN CONJUNCTION WITH GLOBAL SECURITY AGENCIES AND AUTHORITIES.

ARTICLE 8 WITH IMF IS COMPLETED FOR IRAQ. RATES FOR OTHER EM’S ARE LOCKED AND LIVE TODAY ON BANK SCREENS. GLOBAL INSTITUTIONAL INVESTORS NOW HOLD THE BONDS, VIA PRIVATE PLACEMENT AND GLOBAL BOND SALE. ISX, EURONEXT, FOREX, AND ALL GLOBAL EXCHANGES ARE ON HIGH ALERT AND POSITIONED TODAY.

CHINA HAS ALREADY MADE ANNOUNCEMENT TO BECOME A GOLD BACKED GLOBAL RESERVE CURRENCY. BRICS & MINT EM’S ARE LEVERAGED AND POSITIONED, AND ALL GOLD CERTIFICATES IN CONJUNCTION WITH CHINA & OTHER I.I.’S, AND COUNTRIES ARE POSITIONED TODAY. GLOBAL CURRENCY SWAPS AND CENTRAL BANK LIQUIDITY SWAPS, TO CIRCUMVENT USD ARE IN PROCESS, AS THE PETRO DOLLAR PREPARES TO VANISH AND WORLD & EM’S TRANSITION TO DIRECT OIL PURCHASES VIA DIRECT CURRENCY SWAPS WITH COUNTRY CURRENCY GLOBALLY.

TIER 2 BANKS IN USA ARE POSITIONED, NDA’S HAVE BEEN REVISED AND THERE WILL BE NO HIGH RATES, WITH THE EXCEPTION OF GROUPS WITH EXISTING CONTRACTS. ENVIRONMENT IS NOW CLEARED AND STABILIZED FOR GLOBAL RESET.

BONDS WERE FIRST STEP, THEN RV, AND GCR WILL FOLLOW. MULTIPLE BOND CONFIRMATIONS GLOBALLY FROM T1′S, CME, ALL AGENCIES GLOBALLY.

HYPERLINK “http://s3alpha.net/?xg_source=msg_mes_network”

http://s3alpha.net/?xg_source=msg_mes_network

THIS LAST STATEMENT REGARDING BONDS IS BANG ON THE BUTTON. FIRST BONDS, THEN EVERYTHING ELSE. AS OF MARCH 5, THE FOLLOWING INFORMATION WAS GIVEN TO ME FROM THE MEETINGS:

Global RV just passed today. Everything is pushed back 3 days on transactions as a result.

Today the new dollar (US Treasury Note) for the USD exchange is being announced, and the new exchange rate.

This directly affects the bond purchases as when this is confirmed, the bank will be able to issue the contracts for the bond purchases.

THERE WAS FURTHER INFORMATION, BUT THIS DID NOT COME FROM MY DIRECT SOURCE:

The following information has been reported as of yesterday regarding the status of the Redemption Plan for the Historical Bonds for 23 countries. It is believed that the chronological sequence of events will take place as follows:

Read the rest of the article…

 

Investigation into Forex Manipulation & the Case of 12 Dead or Disappeared Bankers and Journalists [video]

They say there are between 5 and 12 bankers dead now, but also journalists, under highly suspicious circumstances.  ~ BP

 

Bankster “Suicides”: Players Taken Out to Prevent Forex Fraud Whistleblowing

Reblogged from American Kabuki:

Aha!  Once again, all is not as it seems. Suicide, indeed. This time it was NOT—but we know “they” are good at making it look that way. ~BP

JIM WILLIE ON BANKSTER SUICIDES: BANKERS WERE TAKEN OUT TO PREVENT FOREX FRAUD WHISTLE-BLOWING! FEBRUARY 7, 2014
Yesterday we reported that Steve Quayle’s banker source “V” has informed him that the recent rash of banker “suicides” are part of a hit list that includes dozens of bankers including a supposed high level Citi executive.
Today, none other than Jim Willie himself has provided SD readers with an exclusive report on the banker deaths. The Golden Jackass states that the suicided bankers had flipped during prosecution investigation, and were assassinated to prevent insider testimony of bank fraud from reaching the prosecution.
Willie, who recently sat down with The Doc for an exclusive interview revealing the “Smoking Gun” proving gold re-hypothecation by US officials, emphasizes that we are NOT seeing bad bankers removed, we are witnessing bankers taken out who are on the verge of revealing BIG DATA details.
Willie’s full alert on Wall Street banker suicides is below: The banker hits are being done by the bad guys to keep men from singing after they flipped during prosecution investigation. All have been working with police teams and continental cops like Interpol.
The STL Fed guy discovered some Bush giant multi-$B fraud and was ready to report it. The STL Fed economist was hit by the Bush gang, before he sang against them. The London bankers had begun to sing to Interpol on Mafia Vatican connections on massive FOREX fraud thefts. It is unclear which is bigger: Vatican links to narco money, or links to FOREX fraud theft, or their control room for Nazis.
WE ARE NOT SEEING BAD BANKERS REMOVED WE ARE SEEING BANKERS REMOVED WHO ARE ON THE VERGE OF REVEALING BIG DATA DETAILS
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