The Telegraph - Matthew Sparkes, 10/9/12
A group of pranksters gatecrashed an investment banking event at a Mayfair hotel to present Barclays with an award for "Innovation in Interest Rate Manipulation."
Footage has emerged of the activists striking at the Investment Banking Awards at the Sheraton Hotel in Mayfair, which they describe as the "Oscars of the financial world".
"Some of the world's richest bankers have gathered to congratulate each other on devising ever more creative ways to make themselves obscene sums of money," reads the narrator in the video of the stunt released this morning.
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Source: YouTube.com
Published on Oct 8, 2012 by WeAreTheIntruders
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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