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Inside The Swiss Franc LIBOR Rate Rigging Chatroom: 6 Years Of Manipulation

One of the nice things about the multitude of lawsuits and settlements surrounding the concerted effort by Wall Street’s largest banks to manipulate the world’s most important benchmark rates is they’ve produced a litany of hilarious chat transcripts that include such gems as "mess this up and sleep with one eye open at night" and the always popular, "if you ain’t cheatin, you ain’t tryin."

Now, courtesy of the appendix attached to the latest LIBOR-related suit brought against Wall Street (and one hedge fund), we bring you six years of Swiss franc LIBOR manipulation presented in chronological order. Highlights here include:

  • "It is our natural right to reflect our interest in the libor fixing process"
  • "Can't you ask your fft to contribute 1m chf libor very low today? I have 10yr of fix, 8 of which against ubs and they're getting on my nerves."
  • "yes, ok mate, I am heading out for a run, enjoy, talk tom, get those fixings down"
  • "whoooooohooooooo 0.01%? that'd be awesome"

Bluecrest Lawsuit 2