When he saw email exchanges between Barclays traders fixing interest rates, Diamond said, he felt "physically ill".
Updated at 1.47pm GMT 1.37pm GMT RBS Trader: fix libor and I'll make love to you Here's another exchange between an RBS trader and a colleague who submitted the bank's Libor rate: May 14 , 2009 Swiss Franc Trader: [Primary Submitter] pls can we get super high 3m super low 6m Swiss Franc Trader: PRETTY PLEASE!
Previously, he also served as Director of Fixed Income, where he oversaw portfolio managers, analysts and traders managing fixed income assets.
He conceded that the regulator "was too narrowly focused" on the banking crisis to notice that traders were fixing rates.
The allegations involve collusion among the banks' traders to fix benchmark exchange rates in their favor, resulting in higher costs for pension funds, mutual funds, multinational corporations and other bank clients that routinely buy and sell currencies.
The Wall Street Journal is reporting that Alex Wilmot-Sitwell, a former top UBS executive, is under fire over the testimony he gave to Parliament in January, regarding attempts by traders to fix the rate at which banks would lend to each other.
Court documents filed in Singapore showed a former RBS trader discussed Libor fixing with traders from other banks and described the process as a cartel.
In other words, regardless of whether a company produces its own gas, it relies on the prices set by the traders alleged to have fixed the price.
Unlike the independent grass seed traders, these institutions offer fixed prices for seeds but are a source of seed markets regardless of the seasonality in production.
Updated at 1.38pm GMT 1.26pm GMT Exposed: How RBS traders manipulated Libor The documents released by the CFTC and the FSA are riddled with examples of RBS traders conspiring to fix Libor.
