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Nov 25, 2015

GATA | THE GATA DISPATCH - November 25, 2015: Two Articles: Class-Action Suit Accuses Big Banks of Interest-Rate Swap Fixing | Pimco, Others Sue Citigroup Over Billions in Mortgage Debt Losses.

Class-action suit accuses big banks of interest-rate swap fixing

Submitted by cpowell on November 25, 2015.  By Mike Kentz
Wednesday, November 25, 2015

NEW YORK -- A class-action lawsuit, filed today, accuses 10 of Wall Street's biggest banks and two trading platforms of conspiring to limit competition in the $320 trillion market for interest rate swaps.
The class action lawsuit, filed in U.S. District Court in Manhattan, accuses Goldman Sachs, Bank of America Merrill Lynch, JPMorgan Chase, Citigroup, Credit Suisse, Barclays, BNP Paribas, UBS, Deutsche Bank, and the Royal Bank of Scotland of colluding to prevent the trading of interest rate swaps on electronic exchanges, like the ones on which stocks are traded.
As a result, the lawsuit alleges, banks have successfully prevented new competition from non-banks in the lucrative market for dealing interest rate swaps, the world's most commonly traded derivative.
The banks "have been able to extract billions of dollars in monopoly rents, year after year, from the class members in this case," the lawsuit alleged. ...

CMI Spot Prices as of Close of Trading in New York on November 25, 2015.

CMI Gold & Sliver

Spot Prices as of traditional New York closing times

Wednesday, November 25, 2015


Today Change Week Ago Month Ago Year Ago
$1,072.40 -$2.90 $1,070.20 $1,167.60 $1,197.80


Today Change Week Ago Month Ago Year Ago
$14.20 +$0.02 $14.11 $15.94 $16.65


Today Change Week Ago Month Ago Year Ago
$846.40 +$2.10 $850.40 $999.60 $1,230.70


Today Change Week Ago Month Ago Year Ago
$555.00 +$11.30 $537.00 $686.20 $803.50

Gold/Silver Ratio


The Guardian | World | Americas | Brazil - November 26, 2015 - 01:07GMT: Senior Brazilian Senator and Billionaire CEO Both Arrested for Corruption.

Senior Brazilian senator and billionaire CEO both arrested for corruption

Brazilian police have arrested the ruling party’s leader in the senate and the head of Latin America’s biggest independent investment bank as part of a corruption investigation.
Banker André Esteves, the billionaire CEO and controlling shareholder of BTG Pactual SA, was arrested at his home in Rio de Janeiro.
Meanwhile in Brasilia, police arrested a ruling Workers’ party senator, Delcídio do Amaral, 60, a veteran lawmaker who runs the senate’s economic affairs committee and has been key to Dilma Rousseff’s efforts to impose austerity measures.
Brazil’s currency fell more than 2% on Wednesday as the corruption scandal centred on state-run oil firm Petrobras threatened Rousseff’s fragile coalition in Congress.
Amaral is among 50 Brazilian politicians under investigation for allegedly taking bribes in the kickback scandal. His arrest caused national shock – it is the first ever for a sitting senator in the country.

WSJ | Forex Closing on November 25, 2015.

The Wall Street Journal Forex Closing
Major Currencies
Wednesday, November 25, 2015
US$ vs.
Americas in US$ per US$ % chg
Argentina peso 0.1038 9.6338 -0.28
Brazil real 0.2672 3.7430 1.16
Canada dollar 0.7526 1.3288 -0.14
Chile peso 0.001402 713.20 0.18
Colombia peso 0.0003255 3071.94 -0.41
Ecuador US dollar 1 1 unch
Mexico peso 0.0606 16.5026 -0.18
Peru new sol 0.2960 3.3784 0.16
Uruguay peso 0.03388 29.5200 0.07
Venezuela bolivar 0.15853262 6.3079 unch

WSJ Major Indexes Closing on November 25, 2015.

The Wall Street Journal Major Indexes Closing
Major Indexes 5:45 p.m. EST 11/25/15
  Last Chg % Chg
DJIA* 17813.39 1.20 0.01
DJ Transportation Average* 8172.05 -2.86 -0.03
DJ Utility Average* 560.63 -2.65 -0.47
Nasdaq* 5116.14 13.33 0.26
Nasdaq 100* 4672.88 3.47 0.07
S&P 500* 2088.87 -0.27 -0.01
S&P 400 Mid-Cap* 1464.25 5.22 0.36
S&P 600 Small-Cap* 707.25 4.20 0.60
DJ Total Stock Market* 21652.42 19.10 0.09
NYSE Composite* 10450.37 0.65 0.01
NYSE Financial* 6486.68 -0.84 -0.01
Russell 2000* 1198.01 9.20 0.77
NYSE MKT Composite* 2266.55 5.72 0.25
KBW Bank* 75.64 0.01 0.01
PHLX Gold/Silver* 45.96 -0.19 -0.41
PHLX Housing Sector* 244.29 0.71 0.29
PHLX Oil Service* 180.13 -0.60 -0.33
PHLX Semiconductor* 666.09 0.47 0.07
* at close
See All Major U.S. Indexes

The Guardian | World | Australia | Austrian Politics - November 26, 2015 - 00:54GMT Government to Release New National Trrorism Threat Advisory System

Government to release new national terrorism threat advisory system

Gabrielle Chan

Terror threat remains the same

New terrorist threat advisory system takes effect today.


Tip of the family payment iceberg passes the house


The new national terrorism threat advisory system released at 12.45pm.

The shipping bill is due for debate again in the Senate just after midday. This is the bill that makes it easier for foreign crews to work ships in Australian waters. The numbers are looking increasingly shaky.

Peter Dutton statement on the dual nationals citizenship amendment

The prime minister, health minister Sussan Ley and Ian Hickie, Professor Ian Hickie and Professor Allan Fels are talking about the government’s response to the mental health report.

As if, says Peter Dutton. Would the conservatives plot next to the bleeding moderate Christopher Pyne?


Peter Dutton to amend citizenship bill after advice from solicitor general


If you think people want a GST rise, you must be living on another planet, says Shorten

Coalition amends family payments