asterisk2a + cartel   42

FactCheck: Theresa May’s claim about housing doesn’t give the full picture – Channel 4 News
There have been six full financial years since the Tories took office in 2010. In four of those years, the number of new houses being built was lower than it was at any time under Labour.
UK  social  housing  Council  affordable  Crisis  Austerity  cartel  duopoly  Generation  Rent  Generationengerechtigkeit  disposable  income  discretionary  spending  debt  bubble  growth  secular  stagnation  immigration  homeownership 
october 2017 by asterisk2a
'I'm dumbfounded!' … Neave Brown on bagging a RIBA award for the building that killed his career | Art and design | The Guardian
Brown is humbled that his buildings are being looked at afresh, but he fizzes with anger at the current state of UK housing. “Neoliberalism has stripped out the social ideology from our country and led to a ruinous economy with ruinous housing,” he says fiercely. “I’m an old, old man, so my answer is probably not the right one, but I think we need a new national agency to govern standards and fund the construction of housing for properly mixed communities – crucially with maintenance costs financed for the whole life of the building.”
social  housing  Council  affordable  segregation  UK  crisis  Austerity  duopoly  cartel  profit  maximisation 
october 2017 by asterisk2a
Volkswagen, Daimler, BMW unter Kartellverdacht: Einmal Schrottpresse - SPIEGEL ONLINE
das Wort der Industrie kein Verlass ist. [...] Problem für die Branche, von der in Deutschland fast jeder siebte Arbeitsplatz abhängt. //&! http://www.spiegel.de/wirtschaft/soziales/volkswagen-audi-porsche-bmw-und-daimler-unter-kartellverdacht-a-1159052.html - Die deutsche Autoindustrie hat sich seit den Neunzigerjahren in geheimen Arbeitskreisen über die Technik, Kosten, Zulieferer und sogar über die Abgasreinigung ihrer Dieselfahrzeuge abgesprochen. Das belegt eine Art Selbstanzeige, die der VW-Konzern nach Informationen des SPIEGEL bei den Wettbewerbsbehörden eingereicht hat. Es könnte einer der größten Kartellfälle der deutschen Wirtschaftsgeschichte werden. &! http://www.politico.eu/article/daimler-volkswagen-bmw-porsche-audi-siemens-the-dishonest-germans/
Abgasskandal  VW  BMW  Audi  Mercedes  Diesel  CO2  carbonfootprint  carbonemission  European  Union  cartel  collusion  bribery  lobby  revolving  door  neoliberal  neoliberalism  capitalism  profit  maximisation  climate  change  global  warming  climatechange  globalwarming  public  health  air  noise  pollution  Trust  governance  corporate  welfare  self-regulation  regulation  regulators  science  big  pharma  tobacco  pharmaceutical  vested  interest  Military–industrial  food–industrial  conglomerate  tax  evasion  avoidance  Glaubwürdigkeit  Journalism  journalismus  Absprache  Bundeskartellamt  Diesel-Gate  Abgas-Affäre  Porsche  Daimler  Dieselskandal 
july 2017 by asterisk2a
The Dark Side of Fast Food: Why Does It Make You Sick / Fat / Tired / Taste So Good (2001) - YouTube
manufactured industrial commodity / Eric Schlosser // food-industrial complex is focused on profit and margin. not sustainability. public health. individual health. climate change // fast food is americas highest spending item! // start w 1970's ... 80s in UK!
Processed  Food  Food–industrial  complex  Lobby  public  health  Standard  American  Diet  western  Urbanisation  USA  chronic  sick  population  Cowspiracy  climatechange  globalwarming  climate  change  global  warming  Fast  McDonalds  sustainability  pollution  obesity  overweight  CVD  Diabetes  care  demands  Consumerism  Consumer  Pop  Culture  Kultur  Advertising  PR  NHS  taxation  premature  death  Cancer  antibiotic  antibiotics  antitrust  Katel  poisoning  Cartel  GOP  Republicans  self-regulation  regulation  regulators  E.coli  revolving  door  Oligopoly  Oligopol  Duopoly 
april 2017 by asterisk2a
Trump Care - Your Cancer, Your Problem: Russell Brand The Trews (E415) - YouTube
Ryan talks about they want hospitals and insurerer to compete against each other. but the McCarran–Ferguson Act 1945 prevents that. Hypocrisy!
ACA  Paul  Ryan  Republicans  GOP  Obamacare  DonaldTrump  Donald  Trump  AHCA  USA  insurance  cartel  medical–industrial  complex  bribery  Preisabsprache  corruption  crony  neoliberal  capitalism  neoliberalism  oligopol  oligopoly  lobby  revolving  door 
march 2017 by asterisk2a
USA: 14 Millionen Menschen droht Verlust der Krankenversicherung - SPIEGEL ONLINE
Die geplante Gesundheitsreform der Republikaner würde schon 2018 rund 14 Millionen US-Bürgern die Krankenversicherung kosten. Zu diesem Ergebnis kommt das unabhängige Budgetbüro des Kongresses. // &! McCarran–Ferguson Act 1945 will not be repealed. //&! HBO This week Tonight about AHCA - https://www.facebook.com/HBO/videos/1152263071569367/ &! CBO estimate 24m will lose out - https://t.co/gfLoQH78mo &! http://www.politico.com/story/2017/03/obamacare-uninsured-white-house-236019
ACA  ObamaCare  DonaldTrump  AHCA  Donald  Trump  Republicans  Paul  Ryan  USA  healthcare  health  care  demand  babyboomers  ageing  chronic  sick  population  discretionary  disposable  spending  income  Demographic  bubble  insurance  collusion  cartel  lobby  Preisabsprache  bribery  revolving  door 
march 2017 by asterisk2a
Cancer drugs price rise 'costing NHS millions' - BBC News
[ capitalists love competition, but corporatists, not. they love raising profit margin ] The UK researchers said NHS negotiations with drug companies were failing to contain costs, and getting access to cheaper drugs would allow more people to be treated with more modern medicines. [...] Dr Hill said he was surprised to find several companies had consistently raised the prices of cancer treatment.
"We have found that some companies take over the supply of some generic cancer medicines and then raise the price progressively," he said. [...] As a result of the bill, companies found to be raising prices with no clear justification will be referred to the Competition and Markets Authority, and could face fines.
NHS  Cancer  monopoly  Privatisation  Austerity  STP  rationing  oligopoly  oligopol  BigPharma  profit  maximisation  cartel  collusion  WallStreet  public  health  sick  population  ageing  care  demand  Demographic  bubble  crony  neoliberalism  Exploitation  Competition  Corporate  capitalism 
january 2017 by asterisk2a
Yanis Varoufakis Candid Interview - Shocking Disfunction and The Power Of Oligarchs
Europe will not survive next crisis. [...] end of interview - China looked after the rest of the world and especially Germany after 2009 (credit bubble) as USA looked after Germany in the 50's - Wirtschaftswunder. Now China is trying its best not to implode and fall below 5% of growth per annum. And now USA is trying to contest Asia (excluding China) economically and militarily through TPP and military increase in that region. //&! Yanis Varoufakis - Guardian Live - youtu.be/md6_WfF9Ky0
Grexit  Troika  IMF  oligarchy  plutocracy  Greece  corruption  bribery  Yanis  Varoufakis  Tsipras  referendum  Wolfgang  Schäuble  Angela  Merkel  Brussels  European  Union  Gold  Standard  economic  history  liberal  economic  reform  antitrust  cartel  tax  evasion  tax  avoidance  Schwarzgeld  Schwarze  Kassen  Schwarzkasse  ChristineLagarde  Panama  Papers  revolving  door  lobby  No  Representation  Career  Politicians  trust  far-right  right-wing  sovereign  debt  crisis  ECB  MarioDraghi  banking  crisis  bank  bailout  GFC  democracy  neoliberal  neoliberalism  shareholder  capitalism  crony  capitalism  Chicago  School  China  credit  bubble  BRIC  USA  Hegemony  TTIP  TPP  geopolitics 
april 2016 by asterisk2a
Mexico grants first marijuana permits for growing and possession | World news | The Guardian
The court ruled that growing and consuming marijuana is covered under the right of ‘free development of personality’, but won’t allow sales of the drug
Mexico  War  on  Terror  drug  cartel  Marijuana  cannabis  Legalisation  decriminalisation  decriminalization 
december 2015 by asterisk2a
Bumper payouts for housebuilding executives as market booms | Business | The Guardian
Two of Britain’s largest housebuilders, Berkeley Group and Persimmon, could hand out about £1bn to their top executives and managers in pay and bonuses over the next six years, boosted by strong UK house prices and government-subsidies for home-buyers. Tony Pidgley, founder and executive chairman at Berkeley, is expected to face tough questions on Tuesday at the group’s shareholder meeting near its headquarters in leafy Cobham, Surrey, after it emerged last month that his pay package last year was worth £23.3m. [...] Meanwhile, executives at Persimmon, the UK’s largest housebuilder, also have a Berkeley-style incentive scheme that is one of the most generous to be found at a London stock market-listed firm. [...] Berkeley’s share price has risen more than 40% since the election of a Conservative government in May, [...] [bonuses] “entirely based on short-term performance”. [...] return on equity[.][ < KPI, what gets measured gets done ] &! bbc.in/1KE0jut - Barratt Homes profits +45%
social  housing  affordable  housing  CEO  pay  Wall  Street  profit  maximisation  shareholder  value  CEO  Leadership  housing  market  housing  crisis  generation  rent  Generationengerechtigkeit  fairness  UK  property  bubble  Supply  and  Demand  Demand  and  Supply  vested  interest  Tories  Conservative  Party  No  Representation  social  tension  social  cohesion  gentrification  Gentrified  austerity  2015  mortgage  market  speculative  bubbles  speculative  speculation  hot-money  bonuses  bonus  transparency  accountability  crony  capitalism  shared  economic  interest  general  election  2015  election  campaign  promises  George  Osborne  babyboomers  David  Cameron  social  contract  political  theory  exploitation  lobbyist  lobby  Lobbying  oligopoly  oligopol  monopsony  cartel  antitrust  financial  incentive  Public  Good  underinvestment  investment  productive  investment  output  gap  productivity  commuting  infrastructure  investment  trickle-down  economics  neoliberalism  neoliberal  budget2015  policy  folly  policy  error  Makers  Public  short-term  long-term  living  standard  cost  of  living  cost  of  ownership  cost  of  entry  living  spaces  standard  of  living  living  environment  city  living  urban  planning  urbanisation 
september 2015 by asterisk2a
A Funny Thing Happened on the Way to $80 Oil - Bloomberg View
[ new duopoly? - USA - OPEC, and OPEC not wanting that?! ] I'm sticking with my forecast of $10 to $20 a barrel. The logic behind that February projection still seems valid. Cartels exist to keep prices above equilibrium. But that encourages cheating, as cartel members want more than their allotted share and outsiders sell more to take advantage of the artificially elevated price. So the job of the cartel leader -- in OPEC's case, Saudi Arabia -- is to cut its production to accommodate the cheaters and prevent a price collapse. The Saudis had been doing that for decades, and as a result, OPEC production over the last 10 years has been flat, with all the growth instead enjoyed by non-OPEC producers, including U.S. frackers and Canadian oil-sands companies. [...] In Texas's Permian Basin and in the Persian Gulf, the marginal cost is $10 to $20 a barrel, and even lower for some Saudi oil fields. [...] Russia is desperate for anything that will earn foreign exchange. // &! bv.ms/1yKiZBs
OPEC  cartel  Oil  price  oligopol  monopoly  duopoly  marginal  cost  Saudi  Arabia  foreign  affairs  foreign  policy  foreign  relations  Middle  East  Russia  China  deflationary  deflation  fracking  shale  gas  shalegas  USA  energy  price  energy  policy  renewable  energy  2015  economic  history 
august 2015 by asterisk2a
Mass Abductions in Mexico Reveal a Decaying State - SPIEGEL ONLINE
Most murders don't even make the front page in Mexico anymore. But the recent abduction of 43 students has infuriated the country. The story has exposed the tight relationship between politics, law enforcement and organized crime. And it shows how weak the state has become.
mexico  drug  cartel  War  on  Drugs 
november 2014 by asterisk2a
Net Neutrality Is Just a Symptom | Hacker News
See Comments! . & managed free market/competition within framework bc it is a utility, not a consumer product you throw away after using it X hours.
Net  Neutrality  free  market  oligopoly  oligopol  public  utility  utility  Policy  Policy  Makers  Career  Politicians  Lobbying  lobbyist  lobby  profit  maximisation  Wall  Street  cartel  USA  crony  capitalism  exploitation 
november 2014 by asterisk2a
3 Myths Comcast Is Telling The FCC About TWC Merger – Consumerist
In addition to the wide swaths of rural land with few broadband options (again, this uses the outdated definition of 3Mbps or better), many of the most densely populated metro areas in the country — Los Angeles, Atlanta, Miami, Chicago, St. Louis, Seattle, New Orleans, and basically the entire D.C.-Philly-NYC-Boston corridor — have few options for even barely acceptable Internet service. Approving the Comcast/TWC merger will do nothing to change this map. It will only change the name of the company that screws up the billing for the customers in these areas.
Comcast  Time  Warner  ISP  broadband  oligopoly  oligopol  cartel  FCC  Net  Neutrality  competitive  advantage  comparative  advantage  competitiveness  21stcentury  Future  of  Work  regulators  lobby  Lobbying  lobbyist  infrastructure  investment  infrastructure  Career  Politicians  barackobama  presidency  Competition  utility 
august 2014 by asterisk2a
Free Mobile Data Plans Are Going to Crush the Startup Economy | Business | WIRED
@howardlindzon - The scariest market news I have read all year but something @mparekh always warns me of. fredwilson http://avc.com/2014/07/the-scourge-of-zero-rating/ "Soon a startup will have to negotiate a zero rating plan before launching because mobile app customers will be trained to only use apps that are zero rated on their network." // @cdixon "Free Mobile Data Plans are Going to Crush the Start Economy" // WhatsApp & e-Plus in Germany - http://gigaom.com/2014/04/08/whatsapp-becomes-a-virtual-carrier-in-germany-with-the-help-of-e-plus/ & http://techcrunch.com/2014/04/07/whatsapp-launches-a-e10-sim-with-e-plus-in-germany-with-free-whatsapp-usage-included/ || + Wikipedia Zero - http://blog.wikimedia.org/2014/08/01/wikipedia-zero-and-net-neutrality-protecting-the-internet/
Net  Neutrality  barriers  to  entry  antitrust  Europe  USA  Bundeskartellamt  cartel  ISP  Wireless  Carrier  oligopoly  self-regulation  regulators  regulation  Start-Up  advice  Start-Up  lesson  WhatsApp  Zero  Rating  Mobile  network  operator 
august 2014 by asterisk2a
Here's the Lawless Hellscape Colorado Has Become Six Months After Legalizing Weed - Mic
By removing marijuana penalties, the state saved somewhere between $12 million and $40 million in 2012, according to the Colorado Center on Law and Policy. [...] The DEA is now asking the Food and Drug Administration to remove marijuana from its list of the most dangerous and harmful drugs. This could signal a radical shift in the way our government regulates and enforces weed. Marijuana advocates hail the decision as a necessary policy step towards eventual legalization, removing a critical roadblock that has constrained marijuana legalization on the local and federal levels. It is, of course, the first step of many. [...] D.C. is considered a staging ground for many local policies that get enacted throughout the country, and a victory for pot could open the floodgates elsewhere. + The Potrepreneur Roundtable with SpeedWeed and ArcView Group - https://www.youtube.com/watch?v=2zZ8RgfTFzA || And don't forget the end of "War on Drugs."
Marijuana  weed  Potrepreneur  Colorado  Medical  Marijuana  War  on  Drugs  mexico  drug  cartel  drug  cartel 
july 2014 by asterisk2a
It's official: Comcast and Time Warner Cable announce $45.2B merger | VentureBeat | Business | by Jordan Novet
Comcast and Time Warner Cable are the largest and second-largest cable providers in the U.S., respectively. [...] federal regulators could challenge the deal, just as they have pushed back on mergers of big mobile service providers such as AT&T and T-Mobile. + The Tek 0096: Comcast & Time Warner Wouldn't Hurt a Fly + http://youtu.be/5UbanGbiEPA?t=9m9s + 30:06min in - all this comes back to the fight of the Middleman to try hardest to stay relevant in the future of distribution of digital content. Whether it be music, movies, tv, tv-series, and any other digital content. The future is about b2c, currently its about b2b2c. The middleman will fall away, but it is fighting back. Remove a middle man and get rid of the mark-up. + http://recode.net/2014/02/12/heres-why-the-biggest-cable-company-in-the-country-thinks-it-can-get-bigger/ + http://recode.net/2014/02/13/comcast-time-warner-cable-deal-faces-significant-review-in-dc/ + http://youtu.be/bJOZEVQOfNc
oligopol  monopoly  crony  capitalism  Time  Warner  Comcast  USA  corporatism  corporate  governance  corporate  media  NBC  generalelectric  GE  antitrust  collusion  infrastructure  investment  infrastructure  middleman  Music  Industry  Hollywood  Entertainment  Industry  Entertainment  Games  Industry  ISP  digital  content  digital  economy  digital  natives  digital  artist  Verizon  cartel  Mafia  AT&T  Netflix  netneutrality  Net  Neutrality  net-neutrality  Netzneutralität  bandwith  metering  Internet  tiering  Internet  metering  public  policy  innovation  barriers  to  entry 
february 2014 by asterisk2a
Verdacht von CDS-Absprachen: EU verschärft Ermittlungen gegen Banken - SPIEGEL ONLINE
Die EU-Kommission droht zahlreichen internationalen Großbanken mit empfindlichen Geldstrafen. Sie wirft unter anderem der Deutschen Bank verbotene Absprachen bei Geschäften für Kreditausfallversicherungen vor. >> /watch?v=u84NhfiGJ7o "Banks in the dock over CDS"
value  at  risk  OTC  trust  cartel  CDS  Corruption  accounting  jpmorgan  confidence  GoldmanSachs  transparency  deutschebank  trustagent  VAR  banking  crisis  too  big  to  jail  Barclays  toobigtofail  bank  crisis 
july 2013 by asterisk2a
Acapulco: Bewaffnete vergewaltigen Touristinnen in Strandressort - SPIEGEL ONLINE
Der Hintergrund der Tat ist noch unklar. Der Sender Milenio Televisión berichtete, die Urlauber seien auch ausgeraubt worden. Es könnte aber auch eine Eskalation des mexikanischen Drogenkriegs sein. Der Bürgermeister versuchte, den Fall herunterzuspielen. "Was passiert ist, ist sehr bedauerlich, aber so etwas geschieht überall auf der Welt", sagte Bürgermeister Walton.

>> Avoid Mexico!? Avoid countries with unstable social frame?
holiday  vacation  mexico  drug  cartel  mexico  tourism  drug  cartel 
february 2013 by asterisk2a
Mexiko: Schönheitskönigin Flores Gámez in Mexiko von Militärs erschossen - SPIEGEL ONLINE
Interesting side of the drug cartel. women @ the top

María Susana Flores Gámez, 20 und Woman of Sinaloa 2012, starb nun bei einer Schießerei im Nordwesten Mexikos. Es war zu einer Auseinandersetzung zwischen Soldaten und mutmaßlichen Mitgliedern eine Drogenbande gekommen. Die bewaffnete Gruppe hatte offenbar Verbindungen zu dem mächtigen Sinaloa-Drogenkartell.

Schon öfter gab es Verbindungen zwischen Gangstern und Schönheitsköniginnen. Im Dezember 2008 wurde die damalige Trägerin des Titels Our Sinaloa Beauty, Laura Zuniga, zusammen mit sieben Männern festgenommen.

Sogenannte Narcoqueens geraten zunehmend ins Visier der Fahnder: Sandra Ávila Beltrán war in Mexiko eine Größe im Drogen-Business. Sie gilt als Mitbegründerin des Kartells von Sinaloa, der mächtigsten Mafia Mexikos und ist als "Königin des Pazifiks" bekannt. Mittlerweile sitzt sie in einem US-Gefängnis und wartet auf ihren Prozess.

- Angie Sanclemente, Unterwäschemodel und Ex-Schönheitskönigin,
- Virginia Vallejo
narcotics  drug  cartel  Narcoqueens  inequality  equality  women  quota  glass  ceiling  mexico  drug  cartel 
november 2012 by asterisk2a
Medikamente: Ein Drittel aller neuen Pillen ohne Zusatznutzen - SPIEGEL ONLINE
Ein neues Medikament ist besser als eines, das schon auf dem Markt ist? Das stimmt nicht immer. Der Arzneiverordnungsreport 2012 belegt: Nur 14 von 23 neuen Medikamenten des vergangenen Jahres hatten einen Zusatznutzen für Patienten.

Ben Goldacre: What doctors don't know about the drugs they prescribe
+ http://www.youtube.com/watch?v=kTqgiF4HmgQ

When a new drug gets tested, the results of the trials should be published for the rest of the medical world -- except much of the time, negative or inconclusive findings go unreported, leaving doctors and researchers in the dark. In this impassioned talk, Ben Goldacre explains why these unreported instances of negative data are especially misleading and dangerous.
drug  cartel  drugs  drug  medicine  medication  lobby  pharma  pharmaceutical  industry 
september 2012 by asterisk2a
Li(e)bor: The Cartel Emerges | ZeroHedge
http://www.spiegel.de/international/business/the-libor-scandal-could-cost-leading-global-banks-billions-a-847453.html

-

seriously sums up the story so far ... really a tobacco moment for financials. years or litigation and new regulation to follow.
collusion  cartel  LIBOR  rigging  scandal 
august 2012 by asterisk2a
Lieborgate: Here Come The Arrests | ZeroHedge
Barclays essentially threw years of quiet cartel cooperation under the bus. As a result, regulators, enforcers, and legal authorities, many of whom were in on this manipulation from the beginning, no longer had an excuse to not pursue civil and criminal charges against perpetrators, who until recently were footing the tabs at various gentlemen's venues and ultra expensive restaurants.

+

BBA changed some text on its website. Cover-up!?

-

Exclusive: Prosecutors, regulators close to making Libor arrests

http://www.reuters.com/article/2012/07/22/us-banking-libor-criminal-idUSBRE86L0CC20120722

-

Scandal will almost certainly end up as the biggest financial settlement in history (combined all).
trustagent  trust  banking  crisis  bank  crisis  governance  corporate  governance  BBA  MervynKing  timgeithner  accountability  bobdiamond  PaulTucker  BOE  Fed  NYFed  LIBOR  rigging  scandal  oligopol  cartel 
july 2012 by asterisk2a
David Bagley: HSBC chief quits in front of U.S. Senate committee as bank is accused | Mail Online
The head of compliance at HSBC resigned in front of a US Senate subcommittee today after it emerged the bank had exposed the US to billions of dollars worth of money laundering, drug trafficking, and terrorist financing.

The revelations are another blow to the reputation of the banking industry following the current scandal over the manipulation of the Libor inter-bank lending rate.

Stepping down: David Bagley quit his post before the Homeland Security and Governmental Affairs subcommittee in Washington today

An explosive report claims a 'pervasively polluted' culture at HSBC led it to act as financier to clients seeking to route shadowy funds from the world's most dangerous and secretive corners, including Mexico, Iran, the Cayman Islands, Saudi Arabia and Syria.

*
That banks sometimes have been looking over the issue of murky business (ethically and morally). It is no new news. But that some higher up has to quit - is a first.

http://www.bbc.co.uk/news/business-18867054
moralhazard  ethics  Willful  ignorance  misconduct  accountability  trustagent  trust  HSBC  oligopol  drug  cartel  banking  crisis  bank  crisis  banking 
july 2012 by asterisk2a
Buttonwood: The nationalisation of markets | The Economist
... price lost its signal service due to policy of QE, ZIRP
... underwater balance sheets seem not to matter anymore

... Trapped in a cage of our own making
... To get free we either cut of limbs and risk bleeding to death
... Or we starve ourself so long till we fit between the bars

history suggests that once governments get involved in a sector, they find it hard to withdraw. Given the weak outlook, it is hard to imagine the circumstances in which liquidity support for the banks will be withdrawn, or the policy of low interest rates abandoned. This is a new financial and economic era.
politics  politicalscience  political  economy  2012  financial  repression  new-normal  greatdepression  economic  history  toobigtofail  cartel  subsidies  Basel3  basel  ECB  Fed  BOE  LTRO  greatrecession  GFC  supply-demand  monetary  policy  ZIRP  unintended  consequences  QE 
may 2012 by asterisk2a
London Banks Seen Rigging Rates Losing Credibility With Markets - Bloomberg
Market Manipulation
In a series of lawsuits filed in 2011 and now winding their way through courts in Europe and the U.S., investors have accused a number of banks represented on the Libor panel of distorting market prices by hiding the banks’ true borrowing costs since as early as 2007.
In August, for example, Charles Schwab Corp., a San Francisco-based brokerage firm and investment manager, sued 11 major banks, including Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co., claiming they conspired to manipulate Libor, depriving investors of fair returns.
The banks conspired to depress Libor by understating their borrowing costs, thereby lowering their interest expenses on products tied to the rates, according to the lawsuit. The banks “reaped hundreds of millions, if not billions, of dollars in ill-gotten gains,” Schwab said.
LIBOR  banks  cartel  oligopol 
december 2011 by asterisk2a

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