Low rates benefit investors at the expense of savers, retirees and pensioners without paychecks needing income especially harmed. At near zero percent for nearly seven years, virtually none is forthcoming for most people.
Corruption is conditioning. In the world’s most notable mafia sporting organisation, it should barely register a shock that FIFA’s Secretary General has been fiddling with tickets. To be precise, Jérôme Valcke is said to have been involved in email traffic with former Israeli footballer Benny Alon which speak of the sale of 8,750 tickets for 24 top notch matches at the Brazil World Cup. Such a procedure would have been in breach of FIFA’s own ticketing rules.
Bloomberg reports today that the same analytical technique that uncovered cheating in currency markets and the Libor rates benchmark [details below] — resulting in about $20 billion of fines — suggests the dealers who control the U.S. Treasury market rigged bond auctions for years, according to a lawsuit.
There can be no dispute that speculative trade in put options – where a party bets that a stock will drop abruptly in value – spiked in the days around September 11, 2001 – even if the US Securities and Exchange Commission and the 9/11 Commission will not say so. More than a few people must have had advance warning of the terror attacks, and they cashed in to the tune of millions of dollars.
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