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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Traders’ Phones Are Becoming a Surveillance Zone

From Wall Street Journal –

“Wall Street has a message for its traders: Watch what you say.

At large banks in the U.S. and Europe, traders’ everyday activities are being recorded and monitored more often than ever before. Lately, banks and their regulators have focused on perusing the minutiae of phone conversations traders have each day with colleagues, competitors and customers.

Years ago, many traders learned to be circumspect about what they wrote in emails, texts and electronic chat rooms. But the phone until recently was a bit of a haven, a place to build rapport and negotiate details of trades.”

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SFO boss warns rogue bankers will be brought to justice

From This is Money –

“The boss of the Serious Fraud Office has warned rogue bankers will be brought to justice with more individuals involved in rigging Libor interest rates likely to be charged this autumn.

In a speech yesterday, David Green (pictured) indicated there would be no hiding place for anyone involved in the scam – no matter how senior – saying the watchdog’s Libor probe will ‘go wherever the evidence takes us’.

The comments were made in Green’s first public speech since former UBS and Citigroup trader Tom Hayes was convicted for manipulating Libor and sentenced to 13 years in jail.”

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