`I've Got My Wizards Hat On' What Broker Said about Libor Moves

From Bloomberg Business -

“A former trader at UBS Group AG asked a broker at RP Martin Holdings Ltd. for help moving Libor because he’d "heard you knew magic."

Mirhat Alykulov, who worked with Tom Hayes at UBS in Tokyo, sent a message in February 2009 asking RP Martin’s Jim Gilmour for a higher six-month Libor rate. The message was shown to jurors by prosecutors at a trial of half a dozen brokers, including Gilmour, accused of helping Hayes manipulate benchmark rates.

"Yes I’ve got my wizards hat on today," Gilmour joked, after agreeing to try to push the rate higher.”

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US government reveals 'damning' evidence in Libor scandal

From The New York Post –

“This “Libor bitch” could get leashed.

The US government unveiled its most damning evidence so far against two ex-Rabobank traders in Manhattan federal court on Monday, including chats, e-mails and recorded calls in which the bankers allegedly colluded to rig one of global finance’s most crucial benchmarks.”

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Ex-Deutsche Bank Executive Cloete Slams German Libor Criticisms

From Bloomberg Business -

“A former global finance chief at Deutsche Bank AG said the German market regulator ruined his reputation after it claimed he and other managers may have turned a blind eye to Libor manipulation.

Alan Cloete said in an Aug. 10 letter to the agency, Bafin, that he has suffered “as a result of the inaccurate and reputationally damaging assessments” by it. His letter, which was seen by Bloomberg, demanded the regulator issue a correction.

Bafin said in May it had doubts about statements by Cloete that he and others including former co-Chief Executive Officer Anshu Jain were unaware of the rigging of the London interbank offered rate. Deutsche Bank paid a record $2.5 billion in fines to global authorities in April over manipulation of Libor and related benchmarks.

“Cloete did not give any instructions to manipulate Libor, he was not aware that there was any manipulation or intention to manipulate,” Cloete’s lawyers said in the 57-page letter. “Nor would he have tolerated this had he known about it.” “

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