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This record fine on a prestigious bank appears to be a very big deal and could have an effect on many other banks including Citigroup and JPMorgan.
The bank admitted to manipulating key interest rates, increasing pressure on other banks to cooperate in a probe that could cost the financial industry billions of dollars.
The agreement came after coordinated investigations lasting years and is just the first in a series of potential cases against other financial firms, including HSBC, Citigroup and JPMorgan Chase.
But it is Barclays' decision to co-operate with authorities that has sent a wave of panic through financial institutions across America.
Dr. Stephen Jones has been writing blog posts since 2005 on a variety of topics from Bible Studies to World News, and he has been writing books since 1992. Dr. Jones' most important writings came after God brought him back into the full-time ministry in 1991. It is here that all his earlier years of searching the Scriptures began to come into clear focus. He combines a knowledge of the Old and New Testaments with a personal revelation of God that began and developed during the "wilderness" period of his life, which he often refers to as God's True Bible College... Read More
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