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Forex rigging turns major banks into felons

For the banks, it's likely to carry more symbolic shame than practical problems

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WALL STREET'S TOP COP: Ms Lynch, at the Department of Justice in Washington on Wednesday, announcing the settlement with several banks to plead guilty to a series of federal crimes over a scheme to manipulate the value of the world's currencies.

New York

FOR the world's biggest banks, what seemed like the perfect business turned out to be the perfect breeding ground for crime.

The trading of foreign currencies promised substantial revenues and relatively low risk. It was the kind of activity that banks were supposed to