First the statists pushed them into it, yet now: UBS to Pay $1.5 Billion to Settle Libor Charges

UBS AG became the second bank to settle accusations that it tried to rig benchmark interest rates, agreeing to pay roughly $1.5 billion in a deal with authorities in multiple countries.

The giant Swiss bank, along with Switzerland's main financial regulator, announced the agreement early Wednesday morning.

As part of the deal, UBS said that some of its employees attempted to manipulate the London interbank offered rate, or Libor, as well as other benchmark rates, which together serve as the basis for interest rates on hundreds of trillions of dollars of financial contracts around the world.

http://online.wsj.com/article/SB10001424127887324407504578188342618724274.html
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Anarcho-Capitalist, AnCaps Forum, Ancapolis, OZschwitz Contraband
“The state calls its own violence law, but that of the individual, crime.”-- Max Stirner
"Remember: Evil exists because good men don't kill the government officials committing it." -- Kurt Hofmann

First the statists pushed them into it, yet now: UBS to Pay $1.5 Billion to Settle Libor Charges

First the statists pushed them into it, yet now: UBS to Pay $1.5 Billion to Settle Libor Charges

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