BREAKING NEWS again for another fine settlement case from bank!!!Accordingly to GENEVA (AP) - Swiss bank UBS agreed Wednesday to pay $1.5 billion in fines for trying to manipulate a key interest rate that affects borrowers around the world.(Read More) Just about 1 or 2 week ago, HSBC was also paying fine for money laundering nearly close to $2billion. (Read More).
Why Switzerland’s largest bank – UBS Paying Fine For LIBOR Rate.
Accordingly to Switzerland’s largest bank – UBS said some of its employees tried to rig the LIBOR rate — short for London Interbank Offered Rate — in several currencies. Below is the video of over 30 UBS employees and senior managers are reported to be implicated in the alleged LIBOR rigging scandal, with the Swiss Bank estimated to pay around $1.5bn to settle charges.
Ouch!!!UBS Paying 1.5 Billion For Fine Settlement of finalising a deal with UK, US, Swiss authorities & Japanese securities subsidiary will plead guilty to a US criminal offence. Despite this, reports from Reuters and the Financial Times say the “bank will not lose its ability to conduct business in Japan”.
BEST NEWS: Inside the UBS LIBOR Fine Settlement Of $1.5 Billion
This is too good to be truth & information that most of us won’t think of why UBS is paying $1.5 billion for LIBOR fine settlement.
If UBS Is Paying $1.5 Billion For Fine Settlement But Who’s Money??
I’m not really sure that the $1.5 billion from UBS to pay off the LIBOR Rate fine settlement are whose money but it is for sure A HUGE AMOUNT OF MONEY was OUT from the UBS. Common sense from my point of view, most of the bank’s money are actually OUR MONEY & bank make money by offering a loan to their clients & charging interest from the loan. So allow me to do some clarification here, bank use our money by offering a loan to their clients & than profit from the interest of the loan but what if in the mid of something happen just like UBS is paying $1.5 billion for fine settlement of LIBOR Rate?? So are our money is still safe in the bank??Maybe yes or Maybe No.
Saving Money In The Bank = Slave Of Money For The Bank
If nowadays you are still working very hard just to save money into the bank, you are 100% with no mistakes a slave of money for the bank. Just in 2 weeks times only, we already have HSBC & UBS are paying fine for settlement again whose money?? I’m not sure but let think about it yet I’m not talking about inflation rate against our bank saving interest rate. Warren Buffett said this:” The only way to get out from inflation is to be able to earn more than that.”
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