• 7/25/2013 - City culture saw bankers accept 'holidays and prostitutes in return for lucrative deals'

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Investigators now believe that the culture of wild and expensive entertainment in return for lucrative business was so out of control in the financial sector in London that it made rate-fixing possible, according to an investigation by a leading US newspaper.

Brokers would routinely entertain bankers with expense account meals and heavy drinking sessions but would also pay for trips to strip clubs or invite them to Las Vegas or on weekends skiing, it is alleged. There is evidence that some traders were rewarded with prostitutes or cocaine, according to the newspaper report.

Such a culture meant that when traders at banks began urging brokers to provide inaccurate information designed to alter the Libor rate it was regarded as just another of the favours brokers and bankers did for each other to boost profits.




In an electronic message held by the US Justice Department a trader is recorded as asking a broker in February 2009 to move a yen version of Libor. He requested that it be shifted "as high as a kite" to which the broker agreed to try to help, saying "hahahha like it". Afterwards, the trader put business in the way of the broker who messaged back "love yu mate".




Brokerages commonly spend £30,000 or more on entertaining a single trader in the expectation that they will make it back through commission on deals directed their way. One former broker was quoted by the US newspaper as saying that after paying for a night out with a trader, "there would be a line of trades for me. I didn't even have to ask".

City businesses maintain that entertaining is a legitimate means of fostering good relations between traders and brokers, and that there are strict rules in place to prevent excessive or improper entertaining.

Brokerage officials also say entertaining traders is a legitimate form of relationship-building, not a form of payback. They say they have strict policies against improper or excessive entertainment.

http://www.independent.co.uk/news/business/news/city-culture-saw-bankers-accept-holidays-and-prostitutes-in-return-for-lucrative-deals-8601754.html
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• 7/25/2013 - City culture saw bankers accept 'holidays and prostitutes in return for lucrative deals'

Posted in Unspecified


Investigators now believe that the culture of wild and expensive entertainment in return for lucrative business was so out of control in the financial sector in London that it made rate-fixing possible, according to an investigation by a leading US newspaper.

Brokers would routinely entertain bankers with expense account meals and heavy drinking sessions but would also pay for trips to strip clubs or invite them to Las Vegas or on weekends skiing, it is alleged. There is evidence that some traders were rewarded with prostitutes or cocaine, according to the newspaper report.

Such a culture meant that when traders at banks began urging brokers to provide inaccurate information designed to alter the Libor rate it was regarded as just another of the favours brokers and bankers did for each other to boost profits.

In an electronic message held by the US Justice Department a trader is recorded as asking a broker in February 2009 to move a yen version of Libor. He requested that it be shifted "as high as a kite" to which the broker agreed to try to help, saying "hahahha like it". Afterwards, the trader put business in the way of the broker who messaged back "love yu mate".




Brokerages commonly spend £30,000 or more on entertaining a single trader in the expectation that they will make it back through commission on deals directed their way. One former broker was quoted by the US newspaper as saying that after paying for a night out with a trader, "there would be a line of trades for me. I didn't even have to ask".

City businesses maintain that entertaining is a legitimate means of fostering good relations between traders and brokers, and that there are strict rules in place to prevent excessive or improper entertaining.

Brokerage officials also say entertaining traders is a legitimate form of relationship-building, not a form of payback. They say they have strict policies against improper or excessive entertainment.

http://www.independent.co.uk/news/business/news/city-culture-saw-bankers-accept-holidays-and-prostitutes-in-return-for-lucrative-deals-8601754.html
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• 7/25/2013 - City culture saw bankers accept 'holidays and prostitutes in return for lucrative deals'

Posted in Unspecified


Investigators now believe that the culture of wild and expensive entertainment in return for lucrative business was so out of control in the financial sector in London that it made rate-fixing possible, according to an investigation by a leading US newspaper.




Brokers would routinely entertain bankers with expense account meals and heavy drinking sessions but would also pay for trips to strip clubs or invite them to Las Vegas or on weekends skiing, it is alleged. There is evidence that some traders were rewarded with prostitutes or cocaine, according to the newspaper report.

Such a culture meant that when traders at banks began urging brokers to provide inaccurate information designed to alter the Libor rate it was regarded as just another of the favours brokers and bankers did for each other to boost profits.

In an electronic message held by the US Justice Department a trader is recorded as asking a broker in February 2009 to move a yen version of Libor. He requested that it be shifted "as high as a kite" to which the broker agreed to try to help, saying "hahahha like it". Afterwards, the trader put business in the way of the broker who messaged back "love yu mate".




Brokerages commonly spend £30,000 or more on entertaining a single trader in the expectation that they will make it back through commission on deals directed their way. One former broker was quoted by the US newspaper as saying that after paying for a night out with a trader, "there would be a line of trades for me. I didn't even have to ask".

City businesses maintain that entertaining is a legitimate means of fostering good relations between traders and brokers, and that there are strict rules in place to prevent excessive or improper entertaining.

Brokerage officials also say entertaining traders is a legitimate form of relationship-building, not a form of payback. They say they have strict policies against improper or excessive entertainment.

http://www.independent.co.uk/news/business/news/city-culture-saw-bankers-accept-holidays-and-prostitutes-in-return-for-lucrative-deals-8601754.html
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• 1/1/1970 - The very best put on the Internet to gamble for Swedish people

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Bodily casino sites in Sweden fall under the syndicate of Svenska Spel, a business authorized by the state to run 6 betting places all over the country (With four of them currently operative in Sundsvall, Gothenburg, Malm?, and Stockholm), electronic ones are complimentary and do not abide by the criticized state gambling regulations. That doesn't suggest that Sweden in fact has their own digital gambling enterprises, however as an alternative they have a wide assortment of options to play outside the iron grip of Svenska Spel.

While Svenska Spel does really offer online there you are, texas hold'em, lottery, and sports gambling, they have no net casino, which indicates that Swedish casino players need to search for global web sites that permit them to play their beloved game. That's the reason this listing has actually been assembled, to aid Sweden individuals select their location to play, in Swedish language.




One of the very best understood of them all is Golden Riviera Casino, informed to be a risk-free and secure experience that signs up with together individuals from very a vast range of nations in greater than 300 gambling establishment games in eight various languages, including Swedish, to fulfill the demands of every gambler who wants to playing casino game. Four additional languages are offered in Royal Vegas Casino, and fifty others games too, but with a smaller sized reward assortment. As this gambling establishment belongs to the Fortune Lounge team, a substantial game network, punters are Casino, Compare The Most Profitable Casinos at CasinoBrava.com able to access to Slots League, one of the biggest and important slots tournaments on the web.

If you look for a more recent and more specific online casino, you can attempt Video Slots Casino, a more recent addition to the globe of on the internet gambling and prepared to fit people from the UK, Finland and Sweden, because those 3 are the only languages it is available in. Punters from Finland, Germany, Australia, Canada, Great Britain, Netherlands and Sweden receive EUR10 free of charge on their very first deposit after landing.




If you are in Sweden and look for an even bigger gambling business, attempt Spin Palace Casino, a substantially granted site with more compared to 400 games offered in 16 various languages. Their progressive pots offer rewards of $4 million every day. Every Sunday, all and every participants of Spin Palace get 100 free of cost spins on the Tomb Raider: Secret of the Sword slot machine.




Another wonderful option is Rich Reels Casino, where you don't also have to download everything to your computer, at the expense of a smaller pool of games to choose from. Yet if you decide to, you have over 400 games offered with a hundred percent bonus offer on your very first deposit around $150 and TWENTY complimentary rotates. It's available in 8 languages.

An unique option could be discovered at Crazy Vegas Casino, where newbies acquire a $3000 cost-free play to appreciate in others than 450 various games with a mobile system to play not just on your pc, but in your tablet computer and your mobile phone also. It's readily available in 9 various languages.

And those are just several of the dozens of online gambling establishments available in Sweden, ready to be picked and played. Great betting!

Physical online casinos in Sweden fall under the syndicate of Svenska Spel, a firm licensed by the state to run 6 wagering locations all over the nation (With 4 of them already operative in Sundsvall, Gothenburg, Malm? One of the important understood of them all is Golden Riviera Casino, informed to be a safe and risk-free experience that signs up with with each other individuals from quite a wide assortment of countries in even more than 300 online casino games in 8 different languages, including Swedish, to meet the necessities of every gambler that wishes for to bet. Four more languages are offered in Royal Vegas Casino, and fifty more games as well, yet with a smaller benefit assortment. If you are in Sweden and desire an also bigger betting business, try Spin Palace Casino, a thoroughly awarded site with more than 400 games offered in 16 different languages.
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