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U.S. Probes Potential Currency Manipulation by Traders at Big Banks

HeadlineNov 15, 2013

In the latest potential financial scandal, the United States is investigating the actions of a group of traders at the world’s largest banks. Nicknamed “the cartel,” the traders allegedly shared information in online chat rooms in a bid to manipulate the price of foreign currencies. Attorney General Eric Holder told The New York Times, “The manipulation we’ve seen so far may be just the tip of the iceberg.”

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