Big investors sue 16 banks in U.S. over currency market rigging. Top banks hit with antitrust suit.

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This should be interesting. Every aspect of the economic system was/is being manipulated to prop up the ponzie scheme central bank. Finally some accountability may actually happen.

 

NEW YORK (Reuters) – A group of large institutional investors including BlackRock Inc and Allianz SE’s Pacific Investment Management Co has sued 16 major banks, accusing them of rigging prices in the roughly $5.1 trillion-a-day foreign exchange market.

The lawsuit was filed on Wednesday in the U.S. District Court in Manhattan by plaintiffs that decided to “opt out” of similar nationwide litigation that has resulted in $2.31 billion (£1.76 billion) of settlements with 15 of the banks.

Those settlements followed worldwide regulatory probes that have led to more than $10 billion of fines for several banks, and the convictions or indictments of some traders.

www.reuters.com/article/uk-forex-lawsuit/big-investors-sue-16-banks-in-u-s-over-currency-market-rigging-idUSKCN1NC34J

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h/t yellowsnow2

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