Episode 884 • • 2:05:45 - 2:07:22
884: Lane Splitter
Euribor Interest Rate Manipulation and Bank Fines
The European Commission fined JP Morgan Chase, HSBC, and Credit Agricole a total of 485 million euros for their roles in a cartel to manipulate Euribor interest rates. Despite evidence of traders congratulating each other in chatrooms, no individual arrests were made. The hosts criticize the lack of accountability for high-level bankers compared to other types of criminals.