we knew that barclays bank had paid a fine for manipulation of interest rates. seven other banks. >> absolutely. libor, we cannot stress how important this is. this is an interest rates that the bank's assets amongst themselves at the end of every day. it is the rate that banks been used to london or money between each other. it is also the interest rate that is used on thousands of different financial products. it is an interest rate to that basically deals with trillions of dollars each and every single day. last month barclays bank admitted to the allegations, that it was manipulating, it was fixing interest rate between the years of 2007 and 2010. for that it cost of a fine of $430 million. at the same time we also knew that u.s. and u.k. regulators were probing 14 other banks. the thinking is you don't have people sitting at the same table to do it. seven of the world's biggest banks like rts, citigroup, deutsche bank, j.p. morgan, and ubs, huge banks. they have been summoned and subpoenaed. they will head to the u.s. and will take thousands of documents wit

and eight the bank is suspected of not being open enough and what it paid to advisors when it raised more than six billion euros of emergency cap. at the height of the financial crisis barclaysas also recently brought in the. rates the rate at which banks lend money to each other the reputation of u.k. banks including standard chartered taken a battering after they were accused of breaking the sanctions imposed on iran. rescuers in southwest china racing to save twenty one miners trapped in a coal mine after a gas blast left twenty six dead explosion happened on wednesday evening when over one hundred fifty people were in the pit the owners of the mine had been detained for questioning coal mine accidents killed almost two thousand people in china last year where safety rules are often neglected. and a spectacular fireworks display proved to be one of the highlights of the opening ceremony of the london twenty twelve paralympics the show believed to be the events most watched competition will last eleven days four thousand athletes from around the globe taking part wheelchair basketball swimming and track cycling all feature on the first day. well forget rockets and shuttles

the scandal hit barclays bank is facing another fraud probe over the billions it raised from the middle eastern investors in two thousand and eight it's suspected of not making clear how much advisors were paid at the height of the financial crisis it was also recently embroiled in a round over manipulating the rate the percentage which banks lend money to each other reputation of u.k. banks has taken a battering out they were accused of breaking sanctions imposed on iran. rescuers in southwest china are facing are racing rather to save twenty eight workers trapped for more than a day inside a coal mine after a gas explosion blast left twenty six of their colleagues dead on an evening when over one hundred fifty people were in the pit the owners of the mine are being questioned by police and investigated for safety violations mining accidents killed almost two thousand people in china last year alone. a spectacular fireworks display proved to be one of the highlights of the opening ceremony of the london twenty twelve paralympics with the show believed to be the events most watched ever

the bank is suspected of not being open enough in what it had paid to advisors when it raised more than five billion pounds of emergency capital at the height of the global financial crisis barclays was also recently embroiled in the row over manipulating the liberal rate the reputation of u.k. banks including r.b.s. and standard chartered have been taking a battering after they were accused of breaking the sanctions imposed on iran. a gas explosion at a coal mine in southwest china has killed nineteen people while dozens are still trapped inside the blast happened on wednesday evening when over one hundred fifty miners were in the pit where the owners of the mine have been detained for questioning coal mining accidents killed almost two thousand people in china last year safety rules can often be neglected. well a spectacular fireworks display proved the highlight of the opening ceremony of the london twenty twelve power lympics the show believed to be the events most watched ever at the competition will last eleven days with four thousand athletes from all around the world taking part wheelchair basketball shooting swimming and track cycling all to be featured on the first day.

scandal hit barclays bank is facing another fraud over the billions it raised from middle eastern investors in two thousand and eight suspected of not making clear how much. of the financial crisis it was also recently embroiled in a manipulative rate the percent which banks lend money to each other the reputation of u.k. banks has taken a battering after they were accused of breaking sanctions imposed on iran. rescuers in the southwest china are racing to save twenty. christian community had a monastery in damascus she's been living there and working there for the last twelve years thank you very much a sister for joining us today my first question is you've been there for twelve years working in damascus in syria iran different areas has there been a difference in your work throughout those years and in the recent months that we've seen uprising and violence of course we have been facing. reality evolving to get more and more of that as you can take. you know it's really in the center headed. so for us it was new because we would've. put it through this partition of the smallest thirty si

eight the bank is suspected of not being open enough in one of the paid advisors when it raised more than six billion euros of emergency capital at the height of the financial crisis barclays was also recently embroiled in the row over manipulating the libor rate rate at which banks lend money to each other the reputation of u.k. banks r.b.s. and standard chartered taken a battering after they were accused of breaking the sanctions imposed on iraq. the death toll from a gas explosion at a coal mine in southwest china has risen to twenty six people while twenty one others are still unaccounted for that blast happened on wednesday evening when over one hundred fifty miners were in the pit the owners of the mind of being detained for questioning coal mine accidents killed almost two thousand people in china last year with safety rules that often neglected. and a spectacular fireworks display proved to be one of the highlights of the opening ceremony of the london twenty twelve paralympics with the show believed to be the event most watched over the competition last eleven days but there were four thousand athletes from around the globe taking part wheelchair basketball shooti

you know billions of dollars in fraud bank of america wells fargo barclays bank of england fraud for fraud not like marginal fraud but clearly systemic and i just wrote a piece about this for the guardian you know clearly systemic tim geithner finds out about in two thousand and eight you know right sneaky mail doesn't leak the news doesn't call a press conference and then you know becomes treasury secretary so it's clear that you know there's a small group of guys and girls who are in on massive massive massive fraud and. so the occupy movement journalists you know threaten to uncover a lot of crimes if the books are ever opened in an e-mail world in an electronic world these crimes are forever last forever so that now is my working theory about why we're seeing such sudden violent crackdown on reporting on dissent on whistleblowers that otherwise a lot of people would go to jail for the crimes that they've been committing occupy wall street is a movement that really raised awareness and pointed attention to the fact of money flowing from wall street to washington influencing polici

hundred billion dollars in mexican drug money i didn't hear any of those comments his comments on barclays bank lie bore rigging affecting five hundred trillion in global derivatives contracts oh no i don't hear john galt speaking there from washington to lou johnny where are you coming oh that's right you're a bag man for shysters downtown that's all you are paul well i think he should instead of who is john galt he should worry about who is slacks myself because slacks my eyes are as it is on strike against u.b.s. but you know here he is receiving huge amounts of money from the banking sector studies show c.e.o.'s not subject to the same rule of law as you so there have been two studies done one study looked at the influence of corporate lobbying on fraud detection corporate lobbying and fraud detection in the journal of financial and quantitative analysis they found that firms lobbying activities make a significant difference in fraud detection compared to non lobbying firms firms that lobby on average have a significantly lower hazard rate of being detected for fraud if they. fraud detectio

boss before i became a whistleblower paul is put himself forward to serve as interim chairman of barclays bank while they go through the period of rough as are paul welcome to the kaiser report. thanks it's difficult to think about banking when you're on a sunny beach in spain. well let us get into it all try to get price some interesting information from me so first tell us about your role of the whistleblower at eight boss what did the bank and what did regulators do upon receiving your information but i did very simple story i. told the board that they should reconsider their strategy for a sales group both if they wish to avoid risks to customers and colleagues and the chief executive fired me i asked for protection from the non-executives and the regulator and i demanded an independent investigation well nobody protected me nobody listened ok so your former job was group regulatory risk is at best i mean your job was to make sure that the bank was not exposed to any regulatory oversight absolutely not i mean i think that's part of the problem the idea that people who lead internal control

you know billions of dollars in fraud bank of america wells fargo barclays bank of england fraud for fraud not like marginal fraud but clearly systemic right and i just wrote a piece about this for the guardian you know clearly system system . that the e-mails are monitored their phone calls are monitored i mean it's just a complete sense of big brother is a hair's breadth away i think i am frightened seeing countries like britain sleepwalking into okaying legislation to institute this kind of surveillance but really in europe people still feel they have some privacy they can go to the march and they can go home. i'm sorry to say that when you get this matrix of surveillance plus police brutality plus laws that suspend to process it's very effective at breaking down protest now let me flip it around and say having studied closing societies and societies that we opened democracies mass protest is the key to reopening democracies memory well thank you very much and thank you mining. the. line in motion soon which brightened if you knew about the song from funds to the pressure in some.

scandal hit barclays bank is facing another form of investigation of the billions it raised from middle eastern investors in two thousand and eight the bank is suspected of not making clear enough and what it has paid. two advisors when it rains more than six billion euros of emergency capital at the height of the financial crisis. was also recently. over manipulating the level rate the rate at which banks lend money to each other the reputation of including r.b.s. instead of chartered taking a battering after they were accused of breaking the sanctions imposed on iran. also in our world update the rescuers in southwest china racing to save twenty one miners trapped in a coal mine after a gasp last left twenty six dead the explosion happened on wednesday evening whenever one hundred fifty people were in the pit of the mine had been detained for questioning accidents killed almost two thousand people in china last year where safety rules are often neglected. spectacular fireworks display proved to be one of the highlights of the opening ceremony of the london twenty twelve paralympics bu

scandal hit barclays bank is facing another fraud probe over the billions it raised from middle eastern investors in two thousand and eight the bank is suspected of not being open enough in what it paid to advisors when it raised more than five billion pounds of emergency capital at the height of the global financial crisis barclays was also recently in borel in the run. over manipulating the libor rate reputation . and standard chartered have taken a battering after they were breaking the sanctions imposed on iran. a gas explosion at a coal mine in southwest china has killed nineteen while dozens of still trapped inside the blast happened on wednesday evening when over one hundred fifteen miners were in the pit as the owners of the mine has been detained for questioning in a coal mining accident such as this well they killed over two thousand people in china last year where safety rules can often be neglected. it's a spectacular fireworks display proving to be the highlight of the opening ceremony of the london twenty twelve paralympics the show believed to be the most watched of the c

after a rate fix scandal that cost barclays bank more than $450 million in fines and triggered investigationso a major of lenders wheatley told reporters, i quote. existing structure and governance of libor is no longer for purpose and reform is needed. for more on goldman sachs' big day. i'm join by ben white and joe wisen tall. they're clean as a whistle? persuade me. >> arguing that goldman is clean as a whistle might be a stretch. but looking at the purpose of these desks at goldman sachs is to give different clients to different exposures to what they want. sophisticated counter parts that, and it was known to be risky. it was not a mystery in the latter years of the bubble, all kinds of stuff. and the client still went for it any way. on these things--you know, when they discovered these e-mails and so forth. the certainly about the quality of the product they're selling and makes goldman look bad. but criminal, i think the justice department was clearly right. it did not rise to that level. >> i have to put out a caveat, i'm a former a.j. and former prosecutor. i have not seen the eche