No matter how many times embarrassing Wall Street emails, conversations or tirades get made public, it never seems to stop.
Just this week, we had the Standard & Poor's analysts' emails and IM conversations released by the Justice Department in its $5 billion complaint against the credit ratings agency. We also had a treasure trove of IMs between traders trying to fix LIBOR.
So we've decided to compile a rundown of Wall Street's most embarrassing words they probably wish were never made public.
'im like a whores drawers.'
On September 15, 2009, an RBS trader compared himself to a 'whore's drawers' in an IM conversation about fixing LIBOR.
Yen Trader 1: can we lower our fixings today please [Primary Submitter]
Primary Submitter: make your mind up[,] haha , yes no probs
Yen Trader 1: im like a whores drawers
'Done...for you big boy'
The CFTC released some excerpts embarrassing emails from Barclay traders in its statement about the bank's manipulation of LIBOR.
From the CFTC's release (emphasis ours):
In addition, certain Barclays Euro swaps traders, led at the time by a senior trader, coordinated with and aided and abetted traders at other banks in each other’s attempts to manipulate Euribor, even scheming to impact Euribor on key standardized dates when many derivatives contracts are settled or reset.
The traders’ requests were frequently accepted by Barclays’ submitters, who emailed responses such as “always happy to help,” “for you, anything,” or “Done…for you big boy,” resulting in false submissions by Barclays to the BBA and EBF.
'Let’s hope we are all wealthy and retired by the time this house of card falters.'
This was an email sent by a Standard & Poors employee prior to the financial crisis.
"Rating agencies continue to create an even bigger monster — the CDO market."
"Let’s hope we are all wealthy and retired by the time this house of card falters."
See the rest of the story at Business Insider
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