6 Banks Fined $3 Billion For Currency Market Manipulation

15 January 2017, 07:22
Ahmad Hassam
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Currency market is too big to be manipulated. We are told often.

6 big banks have been fined more than $ Billion for market manipulation.

These banks include Citibank, HSBC, JP Morgan Chase, UBS and RBS.

I have explained in this post the currency market manipulation allegations as well as videos.

There were other market manipulation allegations as well.

Without proper regulation no one can control greed by these big institutions.

There had been a lot of talk about reduced regulation in the past decades.

This reduced regulation led to the stock market crash of 2008.

This stock market crash did not happen all of a sudden in 2008.

Unbridled greed had taken over the markets in 1990s.

There was no one to check institutional greed which led to the collapse of the housing market first in US.

This housing market collapse spread to other markets and ultimately mushroomed into a the global financial crisis.

So the case of strong regulation is pretty solid. Without strong regulation markets run the risk of going haywire with unbridled greed.

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