Charles Schwab

Major Banks Under Investigation For Ties To Mexican Drug Cartels

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Flashback:

– American Government Backed Murderous Mexican Drug Cartel For More Than A Decade

– CONFIRMED: The DEA Struck A Deal With Mexico’s Most Notorious Drug Cartel

– Breaking News: Romney’s Bain Capital Exposed As Cash Laundry For Bush Drug Cartel (Video)

– Major banks under investigation for ties to Mexican drug cartels (RT, May 23, 2014):

Federal regulators in the United States are reportedly investigation no fewer than two major American banks with regards to their relationships with clients believed to be tied to Mexican drug cartels.

Reuters reported exclusively on Wednesday this week that the US Securities and Exchange Commission is probing both Charles Schwab Corp. and Bank of America’s Merrill Lynch brokerage firm because clients of those entities were linked to Mexican drug cartels.

Read moreMajor Banks Under Investigation For Ties To Mexican Drug Cartels

Charles Schwab Corp. (Largest Independent Brokerage) Sues Bank Of America, Citigroup For Manipulating LIBOR Rates; IMF Notes That LIBOR Underpins $400 Trillion In Financial Derivatives

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– Schwab Sues Bank of America, Citigroup for Manipulating LIBOR Rates; IMF Notes that LIBOR Underpins $400 Trillion in Financial Derivatives (Global Economic Analysis, August 25, 2011):

Investment News reports Schwab sues banks for manipulating Libor rates.

Charles Schwab Corp., the largest independent brokerage by client assets, sued Bank of America Corp., Citigroup Inc. and other banks claiming they manipulated the London interbank offered rate, or Libor, starting in 2007 in violation of U.S. antitrust law.

The banks conspired to depress Libor rates by understating their borrowing costs, thereby lowering their interest expenses on products tied to the rates, according to the lawsuit filed Aug. 23 in federal court in San Francisco, where Schwab is based.

The banks “reaped hundreds of millions, if not billions, of dollars in ill-gotten gains,” Schwab wrote.

Read moreCharles Schwab Corp. (Largest Independent Brokerage) Sues Bank Of America, Citigroup For Manipulating LIBOR Rates; IMF Notes That LIBOR Underpins $400 Trillion In Financial Derivatives