Two senior bond traders at Swiss bank UBS AG are negotiating the terms of their departure amid a U.S. regulatory probe of possible manipulation of U.S. Treasury debt prices, the Wall Street Journal reported on Thursday.
The traders, who focus on the repurchase agreement, or repo market, are no longer working at the bank, the newspaper reported on its Web site, citing unnamed sources.
A spokesman for UBS declined to comment.
The Wall Street Journal did not name the traders, but it said that one of them has been at the bank for nine years and the other for six years.
In other words, they're PROFESSIONAL hucksters - career criminals.
A spokesman for UBS on Monday said the U.S. Securities and Exchange Commission was looking into whether UBS was involved in improper manipulation of Treasury securities prices.
Improper?
The whole financial industry is improper!
Ironically, this makes what these guys did quite 'proper' for their line business.
A bond trader at UBS' rival Credit Suisse recently resigned, according to a regulatory filing.
See? I told you!
They're all doing it!
The Journal previously reported the departure came amid scrutiny of the bank in the matter, but the newspaper said it was not clear which agency was involved.
That's what happens when you turn on the lights in a room full of roaches - they run for the hills!
Almost all bankers are career criminals. And the higher up you go in a bank the more evil and sicker the crimes of these thieves.
Citi (group, bank, cards) etc. are liers, terrorists, and thieves who murder innocent children.
Stop the banking terrorists: use credit unions.