View full page at forexfactory.com

 

Wall Street’s new chatrooms could thwart probes

From nypost.com

Forget about Sen. Elizabeth Warren. The worst scourge on Wall Street is overly chatty traders. Since 2010, the world’s 13 biggest banks have shelled out more than $74 billion to settle probes, ranging from interest-rate rigging to currency manipulation, where incriminating exchanges between traders provided key evidence, according to a Post analysis of data compiled by the CCP Research Foundation. “Those crimes may not have been possible without electronic communication,” said Brandon Garrett, a professor at the University of Virginia School of Law. The eye-popping figure is a big reason why Wall Street is backing a ... (full story)

Story Stats

  • Posted:
  • Category: Breaking News