A NEW NIGHTMARE on WALL STREET ? U.S. BANKS FACE CRIMINAL PROBE into GLOBAL interest RATE - FIXING SCHEME as BARCLAYS BLOWS the WHISTLE on AMERICA's FINANCIAL GIANTS ..

HOW BARCLAYS TRADERS CONSPIRED TO FIX THE MARKETS

Between 2005 and 2009, more than 200 requests were sent, usually by email or instant messenger - by traders to the Barclays Libor submitters. 

In one example of several provided by the FSA, a trader emailed the Barclays Libor submitter in March 2006, writing: 'The big day [has] arrived… My NYK are screaming at me about an unchanged 3(month) libor. As always, any help wd be greatly appreciated. What do you think you’ll go for 3(month)?'

The submitter replied: 'I am going 90 altho 91 is what I should be posting.'

The trader thanked him, saying: '..when I retire and write a book about this business your name will be written in golden letters.'

The submitter then replied: 'I would prefer this [to] not be in any book!'

In another example from April 2006, a trader requested low one month and three month US dollar Libor rates shortly before the submission was due. 

He asked: 'If it’s not too late low 1m and 3m would be nice, but please feel free to say “no”... Coffees will be coming your way either way, just to say thank you for your help in the past few weeks.'

The submitter replied: 'Done... for you big boy.'

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