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Topic: [CNN Money] Six banks fined more than $4 billion in currency probe (Read 1456 times)

legendary
Activity: 1540
Merit: 1000
Do they pay the fines with real money or just invent some like loans to repay Smiley... i've always wondered that.

What bugs me most is that we don't know where exactly those fines are paid to and how are they going to fix any of potential the problems the banks caused by the price manipulations.
The fines are paid to the governments to levied them. The money is not intended to fix any problems caused by the banks as is true for all other fines that are levied by the government.

Banks make that kind of money back in about five seconds, best thing to do would be to hit them with a fine so hard they'd think twice about doing it again if it nearly bankrupts them.
I bet they pass the fine onto their customers in the form of rates. It really does nothing. I don't understand how we are held hostage to institutions like this nowadays. People don't think for themselves and believe all the bullshit and lies that banks and politicians tell them.

That actually true, they do pass it on to customers, I remember reading a story awhile back about how they'd tweak the exchange rates randomly at times so that they could make an extra few million just because, it also reminds me of when Ben Bernanke practically threatened America by saying that, well I'll get the video.

https://www.youtube.com/watch?v=EHNuxBwpBpQ - He talks about how it would collapse the dollar if the fed was audited at around 1:37 so basically they have such a strangehold on the economy that the government couldn't even really do anything even if it wanted to because they'd end up taking the blame from stupid people that they caused the collapse.
legendary
Activity: 1596
Merit: 1021
Do they pay the fines with real money or just invent some like loans to repay Smiley... i've always wondered that.

What bugs me most is that we don't know where exactly those fines are paid to and how are they going to fix any of potential the problems the banks caused by the price manipulations.
The fines are paid to the governments to levied them. The money is not intended to fix any problems caused by the banks as is true for all other fines that are levied by the government.

Banks make that kind of money back in about five seconds, best thing to do would be to hit them with a fine so hard they'd think twice about doing it again if it nearly bankrupts them.
I bet they pass the fine onto their customers in the form of rates. It really does nothing. I don't understand how we are held hostage to institutions like this nowadays. People don't think for themselves and believe all the bullshit and lies that banks and politicians tell them.

Think and act for ourselves is what we need to do rather than place blind faith in corporate morons to do the "right thing" by "us".

Altruism is bullshit fantasy story the corporates preach to us.... its only the little guys that actually follow through on it.
legendary
Activity: 1540
Merit: 1000
Do they pay the fines with real money or just invent some like loans to repay Smiley... i've always wondered that.

What bugs me most is that we don't know where exactly those fines are paid to and how are they going to fix any of potential the problems the banks caused by the price manipulations.
The fines are paid to the governments to levied them. The money is not intended to fix any problems caused by the banks as is true for all other fines that are levied by the government.

Banks make that kind of money back in about five seconds, best thing to do would be to hit them with a fine so hard they'd think twice about doing it again if it nearly bankrupts them.
hero member
Activity: 675
Merit: 500
Quote
It is possible that the banks and individual employees will also face criminal charges in both the U.K. and U.S. over attempts to manipulate the rates.

This might change things.
Fines wont.
sr. member
Activity: 364
Merit: 250
Do they pay the fines with real money or just invent some like loans to repay Smiley... i've always wondered that.

What bugs me most is that we don't know where exactly those fines are paid to and how are they going to fix any of potential the problems the banks caused by the price manipulations.
The fines are paid to the governments to levied them. The money is not intended to fix any problems caused by the banks as is true for all other fines that are levied by the government.
full member
Activity: 1834
Merit: 166
Thoughts ? If they have been fined $4.33 billion, how much have they been into us for ? Does anybody know ?

How many billions in a trillion ?

Oh, BTW - one of the banks was RBS. RBS was kept afloat by the taxpayer - it was essentailly nationalised.

What a fuckin joke this farcical and corrupt excuse for democracy is turning out to be.

You know you can look up their profit/earnings, right? Like you can literally see if they were profitable, and how much, and where profit was made.
hero member
Activity: 770
Merit: 500
Quote
Six banks have agreed to pay $4.33 billion in fines to global regulators to resolve allegations that they attempted to manipulate foreign exchange rates.

http://money.cnn.com/2014/11/12/investing/banks-currency-fx-probe/index.html?hpt=hp_t2

Thoughts?

Thoughts ? If they have been fined $4.33 billion, how much have they been into us for ? Does anybody know ?

How many billions in a trillion ?

Oh, BTW - one of the banks was RBS. RBS was kept afloat by the taxpayer - it was essentailly nationalised.

What a fuckin joke this farcical and corrupt excuse for democracy is turning out to be.
hero member
Activity: 574
Merit: 500
The banks deserve it. But it will continue to happen if the centralized gov and bank system is still ruling us. No one is easy to resist the temptation.
legendary
Activity: 2422
Merit: 1451
Leading Crypto Sports Betting & Casino Platform
Do they pay the fines with real money or just invent some like loans to repay Smiley... i've always wondered that.

What bugs me most is that we don't know where exactly those fines are paid to and how are they going to fix any of potential the problems the banks caused by the price manipulations.
legendary
Activity: 1596
Merit: 1021
Do they pay the fines with real money or just invent some like loans to repay Smiley... i've always wondered that.
legendary
Activity: 2422
Merit: 1451
Leading Crypto Sports Betting & Casino Platform
Quote
Six banks have agreed to pay $4.33 billion in fines to global regulators to resolve allegations that they attempted to manipulate foreign exchange rates.

http://money.cnn.com/2014/11/12/investing/banks-currency-fx-probe/index.html?hpt=hp_t2

Thoughts?
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