Crashing The Investment Banking Awards

The previously mentioned U.K.-based activist squad The Intruders somehow got inside the Investment Banking Awards, where they realized that this year’s most noteworthy accomplishment had gone unmentioned:

The Investment Banking Awards are the Oscars of the financial world. Dished out for so-called ‘innovation’, some of the world’s richest bankers gather together to congratulate each other on devising ever more creative ways to make obscene sums of money.

One of 2012’s most profitable scams was the bankers’ ‘innovative’ approach to a key interest rate called LIBOR. Virtually every bank at the event was involved in illegally colluding to rig LIBOR, ensuring that they would always be the winners in the multi-million pound bets they were making on the markets.

When we noticed that this money-spinner had been overlooked in the ceremony, we decided to show up and make sure the LIBOR-riggers got the recognition they deserve.

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  • Liam_McGonagle

    Was this my early Xmas gift, Disinfo?  Loved every g*ddamned second of it!
     
    Note:  Please do not pass over the statistical quote at the very end of the clip, to the effect that “bankers destroy £7 of value for every £1 that they create” .  A ratio comparable to the back-of-the-envelope calculation provided by Professor McGonagle not so long ago, eh?

    http://dystopiadiaries.blogspot.com/2010/11/should-republicans-consider-hedging.html

    During the period analyzed, the financial sector only contributed $0.20 to GDP for every dollar it held.(Focus on the graph and supporting info in the ‘Conclusion’ section).      

  • Liam_McGonagle

    Was this my early Xmas gift, Disinfo?  Loved every g*ddamned second of it!
     
    Note:  Please do not pass over the statistical quote at the very end of the clip, to the effect that “bankers destroy £7 of value for every £1 that they create” .  A ratio comparable to the back-of-the-envelope calculation provided by Professor McGonagle not so long ago, eh?

    http://dystopiadiaries.blogspot.com/2010/11/should-republicans-consider-hedging.html

    During the period analyzed, the financial sector only contributed $0.20 to GDP for every dollar it held.(Focus on the graph and supporting info in the ‘Conclusion’ section).      

  • Liam_McGonagle

    Was this my early Xmas gift, Disinfo?  Loved every g*ddamned second of it!
     
    Note:  Please do not pass over the statistical quote at the very end of the clip, to the effect that “bankers destroy £7 of value for every £1 that they create” .  A ratio comparable to the back-of-the-envelope calculation provided by Professor McGonagle not so long ago, eh?

    http://dystopiadiaries.blogspot.com/2010/11/should-republicans-consider-hedging.html

    During the period analyzed, the financial sector only contributed $0.20 to GDP for every dollar it held.(Focus on the graph and supporting info in the ‘Conclusion’ section).      

  • Will

    Big respect to this group! Done with style. Love their work.

  • Will

    Big respect to this group! Done with style. Love their work.

  • Will

    Big respect to this group! Done with style. Love their work.

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