Friday, December 14, 2012

UBS Bankers Face Criminal Charges Over LIBOR

surprise By Trippography on Flickr

UBS Is Nearing A Deal With Authorities Over LIBOR, And Wall Street Hasn't Seen Anything Like It In Over A Decade
Linette Lopez | Dec. 14, 2012, 8:31 AM | 1,494 | 3

The most salient criticism for the way maleficence at banks is handled — from the financial crisis to money laundering at HSBC — it's that bank's never face criminal charges.

The New York Times reports that this may change as early as next Monday.

Sources close to the matter say that UBS is nearing a deal with authorities, and that it may include criminal charges as well as about $1 billion in fines.

From the NYT:

UBS is in final negotiations with American, British and Swiss authorities to settle accusations that its employees reported false rates, a deal in which the bank’s Japanese unit is expected to plead guilty to a criminal charge, according to people briefed on the matter who spoke of private discussions on the condition of anonymity. Along with the rare admission of criminal wrongdoing at the subsidiary, UBS could face about $1 billion in fines and regulatory sanctions, the people said.

Banks haven't admitted to criminal wrong-doing in over a decade — not even HSBC when it was ordered to pay its $1.9 billion money-laundering fine.

Individual bankers/traders have been charged, and in UBS's case three bankers have been arrested. The most prominent of those three is Thomas Hayes, a 33 year old interest rate trader who worked in UBS's Tokyo office.

According to the NYT, aside from the blow to the bank's reputation, a guilty plea could mean limitations on the business UBS's Japanese unit is able to do. Plus, it could be subject to independent monitoring.

And who wants that?

GAIA PORTAL: Rapidly Growing Momentum for the Light…

Rapidly Growing Momentum for the Light…
by √ČirePort

As a result of worldwide 12-12-12 12:12 activities, mediations, ceremonies, a rapidly growing momentum for multi-dimensional-level change has established throughout Gaia. Hue-manity is now aware of this, and yet-to-be-fully-awakened 3D humanity, soon will be.

The transformation of energies of Gaia and the full grounding (establishment on the Inner Gaia) of these Higher D energies within Gaia, ensures vibrational uplift of all Gaia inhabitants.

Sacred Gaia portals have returned to full function and effectiveness. All who are drawn to such portals become harmonized with them, and uplifted vibrationally by them.

Further portal vibrational attunements, although necessary, will be minor.

√ČirePort | December 14, 2012 at 23:56 | URL:

New Neil Keenan Video

Former SAC Trader Busted With
Biggest Insider Trading Profit In History

Mathew Martoma exits federal court in New York on Nov. 26, 2012

Former SAC Trader Busted With Biggest Insider Trading Profit In History
Submitted by Tyler Durden on 11/20/2012 12:31 -0500

Cohen ETC Expert Networks FBI Florida Insider Trading Israel Israel Englander New York Stock Exchange SAC Steve Cohen Switzerland

Over two years ago, on November 5, 2010, weeks before news broke out that the SEC had caught hedge funds in a massive insider trading scheme involving expert networks, and before the phrase expert network was even mentioned in places away from hedge funds, we wrote an article, titled "Is The SEC's Insider Trading Case Implicating FrontPoint A Sting Operation Aimed At S.A.C. Capital?" that predicted everything that has transpired with SAC since then: we said expert networks would be exposed as the root of virtually all "information arbitrage" alpha by Steve Cohen, more importantly, we exposed various biotech stock trading patterns, where the informational benefits from easily bribable doctors would result in immediate profits courtesy of advance knowledge of Phase 2, 3 and NDA results. Today, we discover not just how deep the SAC insider trading schemes went, but that the profit from such information abuse amounted to hundreds of millions in standalone cases. Adding these together and one can see why Steve Cohen - whose knowledge of these epic inside trading scheme is of course never implied by us: after all, that's what the DOJ, the SEC and the various DA offices are for - was generating 20% returns year after year and able to pocket 3% and 50%.

The Gulag Ameripelago: US Incarceration Surpasses Russia's

The Gulag Ameripelago: US Incarceration Surpasses Russia's
December 13, 2012

Source: Zero Hedge

Remember when Americans used to mock Russia (f/k/a the USSR) for being one big Gulag prison colony? Those were the good days. One thing is sure: they no longer "hate us for our freedom." On the other hand, if instead of prison, one were to write in "minimum security, free room and board, out early for good behavior" (especially if the world's most famous hedge fund will fund all your cash needs for the rest of your life on the 'other side' just as we predicted three weeks ago), then they would certainly hate us for our benefits.

Anonymous Announces Wikileaks Alternative (VIDEO)

Photo Credit:

Anonymous Announces Wikileaks Alternative (VIDEO)
By Nathaniel Downes

Love it or hate it, Wikileaks has become entrenched in popular culture. By releasing what are otherwise secret documents, Wikileaks has changed the world. But the repeated attacks on the group has exposed weaknesses of its centralized operation and have driven a wedge between it and previously allied groups, such as the hactivist collective Anonymous. And with Wikileaks founder and spokesman Julian Assange a wanted man, the days of Wikileaks have always been numbered.

But, as with the attacks on Napster, the attacks on Wikileaks did not crush the customers of the service. Instead, it restructures the operation, changing from a centralized agency to a de-centralized. Napster became replaced by bittorrent, and now Anonymous has announced its replacement for Wikileaks, a service they call TYLER.

IDF mum on stolen F-16 engines

I love how the galactics deal with these situations! :) 
Scrap metal thieves my foot.... like the Israelis don't keep their jets under guard?  -AK

IDF mum on stolen F-16 engines

An Israel Defense Forces spokesman says military police are investigating the theft of F-16 engines from an IDF base and will pass along their findings to military legal officials when finished “if deemed necessary.

“The IDF prides itself on its level of professionalism, which obviously extends to security on military bases. Due to the ongoing investigation, we cannot comment further at this point,” Capt. Eytan Buchman told Defense Tech in an email.

The IDF for now is saying only parts were stolen, though Israeli media – from the Hebrew-language website Walla, which broke the story, to the Jerusalem Post and others, say several engines were taken. Buchman told Defense Tech that because of the ongoing investigation he could not say exactly what was taken.

The Israelis had an equally embarrassing theft about 18 months ago, when eight F-15 and F-16 engines were stolen from Tel Nof air base near Jerusalem.

Buchman also was not able to answer questions related to those thefts.

“I am still waiting from the military censor to see whether we can pass on information,” he said.

The IDF has played down the seriousness of the losses, noting the engines are older models. But American defense and military analysts have said there is still classified technology in the engines that a competing nation could uncover by taking them apart.

In both cases, the IDF has suggested the thefts were c carried out by people intending to sell the materials for scrap.

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