currency manipulation | Unified Papers
In 100 words or more reply to the statement below about currency manipulation
Article: Currency Manipulation
http://www.washingtonpost.com/news/morning-mix/wp/2014/11/13/the-gleeful-messages-exchanged-by-bankers-that-produced-a-4-3-billion-fine/?tid=hp_mm&hpid=z3
In the past five years, international traders who gave themselves names like “The Players,” the “A-Team” and “The Three Musketeers” colluded in online chat rooms to rig the prices of foreign currencies and make millions while their clients suffered. Meanwhile, they taunted the suckers they bamboozled and congratulated themselves on their cleverness. On Wednesday, financial regulators from Switzerland to London to New York and Washington fined five major banks — JPMorgan Chase, Royal Bank of Scotland, Citigroup, UBS and HSBC Bank — a whopping $4.3 billion for financial chicanery.
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