It's tres, tres exclusive, according to New York Magazine.
Libor-gate has been a big deal for a few weeks now, but it
hasn't quite broken the mainstream-interest threshold. One issue is that, as hard as Jon Stewart has tried, it's
hard to get people riled up about a scandal involving interest rates. But the
bigger problem is that investigators aren't naming names. Who, we all wondered,
were the members of this shadowy group? Thanks
to an enterprising bit of digging by the FT yesterday, we now have some names
to accompany our collective outrage.
Philippe Moryoussef, a former Barclays trader, was
reportedly the "former Barclays senior Euro swaps trader" who
conspired with traders at several other banks to rig Barclays submissions to
Libor and Euribor — which is the same thing but for the Eurozone.,,,,,
But Moryoussef — who
left his new job at Nomura over his involvement in the scandal — didn't work
alone. According to the FT, his circle included "external traders"
such as Michael Zrihen at Crédit Agricole, Didier Sander at HSBC, Christian
Bittar at Deutsche Bank, and an as-yet-unnamed group of traders at Société
Générale.
Together, this VIP club of rate-riggers — let's call them
the Li-bros — are said to have worked together to submit false Euribor rates,
which would allow them to squeeze a few extra dollars out of their futures
trading positions. They may also have been among the "external
traders" who famously celebrated pulling off a successful rig like…..
No comments:
Post a Comment