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LIBOR and Forex Manipulation
The transparency of the United States stock markets is a large reason for their success. The SEC demands that companies provide timely and accurate reports of their finances, plans, and any potential problems. It turns out that this degree of transparency is not present in the world of banks and bank currency trading. This is the world of LIBOR and Forex manipulation. In order for there to be a viable currency market foreign currency exchange rates need to be based on true fundamentals and a true analysis of market sentiment. Thus the announcement of an investigation by the US Justice Department should concern Forex traders. According to the Justice Department there is an active and ongoing investigation of possible currency manipulation by several large primarily European banks.
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