Ngck 3rd Gear June 15, 2013 Share June 15, 2013 no need to go jail one ah...... nice ↡ Advertisement Link to post Share on other sites More sharing options...
Windwaver Turbocharged June 15, 2013 Share June 15, 2013 no need to go jail one ah...... nice If the 'slap' is too heavy, it may very well be a slap on ourselves Link to post Share on other sites More sharing options...
Wt_know Supersonic June 15, 2013 Share June 15, 2013 (edited) non successful manipulation = bo tai chi? tried to manipulate ... the "intent" is already there and still bo tai chi? only resign or ask to leave ... walao ... traders still can laugh to the bank and drive their lambo/ferrari/porky 133 traders from these banks tried to manipulate the Singapore Interbank Offered Rates (SIBOR), the SWAP offered rates and foreign exchange spot benchmarks. There was no evidence of “successful manipulation”. Edited June 15, 2013 by Wt_know Link to post Share on other sites More sharing options...
Wind30 Turbocharged June 15, 2013 Share June 15, 2013 non successful manipulation = bo tai chi? tried to manipulate ... the "intent" is already there and still bo tai chi? only resign or ask to leave ... walao ... traders still can laugh to the bank and drive their lambo/ferrari/porky 133 traders from these banks tried to manipulate the Singapore Interbank Offered Rates (SIBOR), the SWAP offered rates and foreign exchange spot benchmarks. There was no evidence of Link to post Share on other sites More sharing options...
Dark 5th Gear June 15, 2013 Share June 15, 2013 I think MAS is giving the banks an escape clause. If there is evidence of successful manipulation, there will be a lot more headaches like libor. People who lost money due to Sibor sure will complain.... But is it believable??? So many banks involved, 133 traders. no successful manipulation? common, who are they kidding?? 133 traders come together for nothing???? hold party izzit? I really don't believe that the traders did not profit from this. More like a saving grace so they can declare case closed and not alarm the public. Link to post Share on other sites More sharing options...
Yewheng Twincharged June 15, 2013 Author Share June 15, 2013 I think MAS is giving the banks an escape clause. If there is evidence of successful manipulation, there will be a lot more headaches like libor. People who lost money due to Sibor sure will complain.... But is it believable??? So many banks involved, 133 traders. no successful manipulation? common, who are they kidding?? 133 traders come together for nothing???? hold party izzit? I really don't believe that the traders did not profit from this. I still don't understand how traders manipulate rate setting? Do they really profit from it or MAS go hard on this is to not to create morale hazard ? Link to post Share on other sites More sharing options...
Wind30 Turbocharged June 15, 2013 Share June 15, 2013 (edited) I still don't understand how traders manipulate rate setting? Do they really profit from it or MAS go hard on this is to not to create morale hazard ? you never read the libor case linked earlier? keep asking question don't do and read. link again for you. http://en.wikipedia.org/wiki/Libor_scandal Sibor should be similar... Edited June 15, 2013 by Wind30 Link to post Share on other sites More sharing options...
Wind30 Turbocharged June 15, 2013 Share June 15, 2013 More like a saving grace so they can declare case closed and not alarm the public. The review uncovered HUNDREDS of attempts by 133 traders... xiao lah, if it doesn't work you think those bankers got nothing to do meh? Seriously, how stupid does MAS think the public is??? http://www.todayonline.com/business/mas-co...es-twenty-banks SINGAPORE Link to post Share on other sites More sharing options...
Duckduck Turbocharged June 15, 2013 Share June 15, 2013 On the contrary, such things got nothing to do with CEO / CFO, its with the trading desks. Of course the CEO will be under fire when such things happen. Eg. If a rifle gets lost due to the actions of a serviceman, what happens to the CO? Billion traded n CFO doesnt know n allow traders to handle??? Pls refer to JPM London whale case... their CIO left as result. .. People should start asking wat kinda risk control banks have... Link to post Share on other sites More sharing options...
Duckduck Turbocharged June 15, 2013 Share June 15, 2013 The review uncovered HUNDREDS of attempts by 133 traders... xiao lah, if it doesn't work you think those bankers got nothing to do meh? Seriously, how stupid does MAS think the public is??? http://www.todayonline.com/business/mas-co...es-twenty-banks SINGAPORE Link to post Share on other sites More sharing options...
Duckduck Turbocharged June 15, 2013 Share June 15, 2013 The review uncovered HUNDREDS of attempts by 133 traders... xiao lah, if it doesn't work you think those bankers got nothing to do meh? Seriously, how stupid does MAS think the public is??? http://www.todayonline.com/business/mas-co...es-twenty-banks SINGAPORE Link to post Share on other sites More sharing options...
Celicar Turbocharged June 15, 2013 Share June 15, 2013 Project Wayang. Believe manipulation was unsuccessful one is ghost. Read carefully. The official statement is NO EVIDENCE of successful manipulation was found. Does not mean no ACTUAL successful manipulation hor. Now that investigations are completed, someone please lead the blind MAS officers out of the room. Link to post Share on other sites More sharing options...
Throttle2 Supersonic June 15, 2013 Share June 15, 2013 (edited) as another post said, if they slap too hard, it shows how unsafe our local banks are, but somehow keep winning most safe n strongest bank awards... This isnt quite a pure case of risk control.... Anyway, what do i know, i only wipe tables Edited June 15, 2013 by Throttle2 Link to post Share on other sites More sharing options...
Jokerd 2nd Gear June 15, 2013 Share June 15, 2013 (edited) non successful manipulation = bo tai chi? tried to manipulate ... the "intent" is already there and still bo tai chi? only resign or ask to leave ... walao ... traders still can laugh to the bank and drive their lambo/ferrari/porky 133 traders from these banks tried to manipulate the Singapore Interbank Offered Rates (SIBOR), the SWAP offered rates and foreign exchange spot benchmarks. There was no evidence of Edited June 15, 2013 by Jokerd Link to post Share on other sites More sharing options...
Pentium 1st Gear June 17, 2013 Share June 17, 2013 MAS requires major banks to deposit money with them and at the same time funds are flowing out of Sinkie, sinkies will be screwed as SIBOR rates will shoot up Link to post Share on other sites More sharing options...
Duckduck Turbocharged June 17, 2013 Share June 17, 2013 (edited) Interestingly, a few reports I've read say that a few cases have been sent to the Commercial Affairs Department, but it's not in the CNA report... we r supposed 2 b financial hub... they rather sweep everything under carpet or else who dare 2 deposit here? Im not happy that no CEO or CFO came out at least address wat has happened... hundred millions to billions attempted manipulation but no charges?? serious lack of risk reporting here... JPM's CEO volunteered to testify to address concerns abt their billions trade issue, bob diamond ex barclays CEO resigned due to this same interest rate fixing case... even their chairman had 2 resign.. http://www.bloomberg.com/news/2013-02-28/u...rate-probe.html Edited June 17, 2013 by Duckduck Link to post Share on other sites More sharing options...
Wyfitms Twincharged June 17, 2013 Share June 17, 2013 The old saying still holds true...never trust a banker! I have many banking friends. I never trust one of them. that's sad man.. how abt lawyers? salesmen? Link to post Share on other sites More sharing options...
Wyfitms Twincharged June 17, 2013 Share June 17, 2013 as another post said, if they slap too hard, it shows how unsafe our local banks are, but somehow keep winning most safe n strongest bank awards... being the strongest bank in the world doesnt necessarily mean it is strong. it just mean that it is the strongest amongst all the other bankrupted banks. ↡ Advertisement Link to post Share on other sites More sharing options...
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