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City traders attempt to take down UK bank
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Mac Elite
Join Date: Jan 2004
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Nice to see that in these wobbly times you can alsways rely onn those city boys to "do the right thing".
BBC NEWS | Business | FSA probes 'false' share rumours
So a bunch of mystery traders used false rumours about the financial viability of one of the UK's biggest banks in order to drive down the share price and pocket themselves a cool £100 million.
It remains to be seen just how seriously this is persued here. Certainly less vigourously than if they had walked into a bank with some sawn - offs.
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Clinically Insane
Join Date: Jun 2001
Location: planning a comeback !
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Yeah, unbelievable. 
-t
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Clinically Insane
Join Date: Jul 2005
Location: Vacation.
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Of course, this could also be the FSA dabbling in BS to talk up HBOS shares which have naturally fallen - last thing the FSA wants is another bank collapse so soon after NR so inventing a patsy and a rumour about a false rumour is a good way to go about rescuing things.
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Been inclined to wander... off the beaten track.
That's where there's thunder... and the wind shouts back.
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Addicted to MacNN
Join Date: Mar 2006
Location: California
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clever 
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Addicted to MacNN
Join Date: Sep 2001
Location: Toronto
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Tinfoil hat much? Seriously.
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Clinically Insane
Join Date: Jul 2005
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Originally Posted by Mastrap 
Tinfoil hat much? Seriously.
Political experience. Seriously.
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Been inclined to wander... off the beaten track.
That's where there's thunder... and the wind shouts back.
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Addicted to MacNN
Join Date: Mar 2006
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They didn't really try to 'bring it down' though, did they? This is just a classic short scam, isn't it?
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Clinically Insane
Join Date: Jul 2005
Location: Vacation.
Status:
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Originally Posted by peeb
They didn't really try to 'bring it down' though, did they? This is just a classic short scam, isn't it?
Not yet it ain't. At the moment it's just smoke, no fire. Wouldn't be surprised if there's mirrors along to join in the party soon.
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Been inclined to wander... off the beaten track.
That's where there's thunder... and the wind shouts back.
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