BanksYou may have heard of the Libor scandal, in which at least three – and perhaps as many as 16 – of the name-brand too-big-to-fail banks have been manipulating global interest rates, in the process messing around with the prices of upward of $500 trillion (that’s trillion, with a “t”) worth of financial instruments. When that sprawling con burst into public view last year, it was easily the biggest financial scandal in history – MIT professor Andrew Lo even said it “dwarfs by orders of magnitude any financial scam in the history of markets.”
Oil companies The three oil companies are all major producers in the international energy industry and contribute data to Platts’ Market on Close (MOC) pricing process, which every day publishes the final trading price for numerous commodities. The EU said it has concerns that some companies may have tried to manipulate the pricing process by colluding to report distorted prices and by preventing other companies from submitting their own prices.
Supermarkets Irish food inspectors announced in mid-January that they had found horsemeat in frozen beefburgers made by firms in the Irish Republic and the UK, and sold by a number of UK supermarket chains, including Tesco, Iceland, Aldi and Lidl.
TV With the current series of X Factor embroiled in rumoured scandals, we take a look at the other television scams that left programmes named and shamed. BBC a the jimmy savile scandal.
Politics the expenses debacle is truly the scandal that just keeps on giving. This year saw Labour MP Denis MacShane instantly disgraced, prompting him to leave parliament. Tory chairman Sayeeda Warsi faced intense scrutiny over her questionable claims, too. And Margaret Hodge, the Luton South ex-Labour MP whose second home was over 100 miles from her constituency, only escaped jail on because of mental health problems. She got a two-year supervision and treatment order instead. These really are all part of the same scandal, which covered the 2005-2010 parliament. Surely it can’t keep on running for another year? Come back in 12 months and find out.
You pay for TV license you have to open a bank account you have to buy food and oil. Why not put your money some were safer and better then home.
Invest in emerging markets.
- Denis MacShane: Expenses cheat former MP facing threat of criminal charges (mirror.co.uk)
- Everything Is Rigged: The Biggest Price-Fixing Scandal Ever (financialsurvivalnetwork.com)
- Politics: Everything is Rigged: The Biggest Financial Scandal Yet (eezzbeat.newsvine.com)
- Asda regains trust of customers after horsemeat scandal (guardian.co.uk)
- Everything Is Rigged: The Biggest Price-Fixing Scandal Ever (philosophers-stone.co.uk)
- Benghazi Update, IRS Scandal, DOJ Seizes AP Records, Another Military Sex Scandal and More (silveristhenew.com)
- Top Official Resigns Over IRS Scandal (huffingtonpost.com)
- Prosecutors consider former MP expense charges (itv.com)
- Taibbi: Everything is Rigged (drudge.com)
- Rotten in Rotherham: Denis MacShane, Doublethink and the Coming Slave-State (theoccidentalobserver.net)