Bart ChiltonThe CFTC’s Bart Chilton was on CNBC’s Squawk Box today, and stated that TBTF banks must end their brazen, flagrant manipulation.
Chilton was referring to LIBOR manipulation, and specifically RBS, who has just been fined over $600 million for their role in LIEBORGATE.

While we couldn’t agree more with Mr. Chilton, we are all still waiting to see the CFTC address the alleged silver manipulation in the same manner as the already broken LIBOR manipulation scandal…rather than drag their supposed investigation into its 5th full year. (particularly after Mr. Chilton personally advised the Doc in July 2012 that he expected a resolution of the CFTC’s silver investigation and an announcement by September 2012)

Chilton’s full interview and rant on how the banks must end their brazen, flagrant manipulation is below:

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  1. as usual great sound bites, but if you and your crew did your goddamned jobs once, ONCE with any measure of consistency, then we would all be better off for it.
    Work towards this in an official fashion bart, instead of quoting rock n roll scripture on interviews once every 6 months. Sadly though, if he pushed too hard I would expect him to end up wearing cement shoes.

    • Bart Shill-ton hypocritical, double-speaking bobbleheaded banker sock puppet tells banks TO STOP MANIPULATION. Is he being ironic? Do we laugh or vomit?

      Bart Shill-ton’s role is to interview over tectonic fissures in the financial system with periodic finger wagging and toothless bla bla bla.

      Bart Shill-ton is maybe the most cynical sociopath of all these CFTC criminals. With a straight face, and nary a squinting facial tic, he knowingly enables silver manipulation while scolding these banks sans any substantial fines. At least OMalia and Sommers were just straight out corrupt.

      Bart Shill-ton is a great representative of what the Dem party is all about. Blathering empty rhetoric while bending over for the banks.

  2. Right on Dirt!
    I have grown to know Bart as the gent who says all the right things to all the right people at all the right times.  However, at those meetings WITH HIS PEERS, he just sits there and keeps quiet….a fly told me.

  3. So if it’s not Brazen or Flagrant then it’s fine. What about the Manipulation of the PM’s? It can’t be more Brazen and Flagrant than LIBOR. All of them need to be fired even Chilton. Now Libor is being turned over to British Regulators, who owns the Regulators including Chilton? Give me a break. Let it all collapse and hang them all and leave them hanging till they rot in front of the banking establishments then start anew. I think the new Bankers will get the drift.

    • “All of them need to be fired even Chilton.”
      Yeah.  Then he would be forced to return to Goldman Sachs, or whatever other mega bank he came from, and resume doing his ultra cushy job with stock and all the perks.  How about a US House investigation of these regulators with possible jail time as the result?  That has a better chance of getting their attention.  Would LOVE to see some of the CFTC’s emails!

  4. OK.  So RBS gets a $600 million fine which they will no doubt pay without acknowledging any guilt or wrong doing.
    Next question:  How much did RBS rake in on the scam?  Rake in minus penalty  = return on investment.
    RBS response: “Not bad!  Let’s do it again  “

    • Exactly, John.  We should all remember that these banksters are ALL about the numbers.  If they can do a criminal act, not suffer any jail time for it, and make more than they are fined, then that is a “sound business decision” from their pointy-headed perspective.  If someone offered us $5,000 cash to speed through an area known to have police radar traps but the fine for speeding was only $500, would we do it?  A lot of people would.  Hey, it’s $4500 free dollars!  This LIBOR rigging and other bankster scandals are no different.

    • Yes, he is.  Most of us never give LIBOR a single thought but in the banking world it is HUGE.  Rigging that was a pretty ballsy move on the part of the banksters because of its size and importance.  Yes, they are used to brain-dead somnolent regulators but this was simply too big to ignore.  My thought is that anything that CAN be rigged for a profit, WILL be rigged and the profit collected.
      Oddly enough, from what I have been able to find on the subject, naked shorting is not illegal.  It SHOULD be but it isn’t.  We need to ask our congress critters WHY it its legal and see if they have any clue as to what we are saying and if they are willing to do anything about it.  My guess would be no and no.

  5. I’m a bit perplexed at Michelle’s attitude towards obvious manipulation as a lesser evil for the greater good of preventing an explosive banking situation.
    She’s appears annoyed that this is even an issue, dismissive and nearly cynical that someone would question the “professionals”.
    Honesty and integrity is offensive and treasonous.

    • I had made a reply, but it apparently was deleted because I used the C word ( sorry but it is more than appropriate ). She is a rabid bitch who apparently enjoys apologizing for overt criminal activity.
      I found it oddly refreshing that Liesman actually jumped her about it, then she goes ahead and twists her point to implicate regulators, as if to color MR Chilton himself. She needs to get the eyebrows slapped off of her face.
      Bread and Circus. It is amazing how things look after one has woken up. Disgusting.

  6. The game is rigged The game has always been rigged The game will continue to be rigged until it can no longer be rigged for profit period end of story.
    Patience is a virtue.If you don”t possess it get out now cause this manipulation game ain’t ending anytime soon regardless of all the jawboning by the likes of Chilton et Al.

  7. @Canadian-Dirtlump
    OH The irony, one week the SEC puts Egan Jones ratings in the corner for 18 mo. to prevent US and other country credit rating downgrades and the next civil suit S&P for over irrational exuberant bank ratings during the housing bubble created by the Gimmedat (democrat) senators. Sen. Blubbering Frank being one of them. Then him and Dodd are tasked to create legislation to prevent it from happening again? Fk’n insanity.
    The federal manipulators in the middle is the root of all our problem.
    Truly disgusting, and the % of individuals who are aware are so few. A sheering of the masses is truly is under way.

    • “A sheering of the masses is truly is under way.”
      Indeed it is… and in that game, one is either shearing or getting sheared!
      Ah, lovely beautiful silver… the metal that has “bite me!” written all over it.  😀

  8. I think Mr Chilton is doing the best he can.  He knows what is going on but can’t do anything about it.  He is between a rock and a hard place.  Or, maybe he is just playing “good cop?”  Who knows.  Gold and silver manipulation has been going on for eons and one man certainly can’t do anything about it.  The Treasury dept runs this program.  Bart cannot overstep his boundary’s or he will be in over his head. 

    • Shill-ton’s patronizing gobbledegook harms manipulation investigation. Shill-ton parrots platitudes while his inaction intentionally enables silver’s crime in progress. Shill-ton isnt one of the good guys. Shill-ton’s cooing comforting faux concern about metals manipulation is perception management, nothing more.

    • And Egan Jones got smacked with an 18 mo. stfu or else get racked like S&P.
      One thing they can’t manipulate is a competition, Chinese exchanges and gold backed currency, countries skirting the petro$ using gold etc.
      Writing is on the wall.

    • Yes, the feds do play hardball… they practically invented that game.  Probably started about the same time as the Whiskey Rebellion.
      Anyway, yeah, this is definitely pay-back for S&P downgrading US credit.  Egan Jones?  Nah, too small to make a good example but we WILL get around to them in good time.

    • saddle…Agreed.  I should have said S&P was the first of the ‘big boys’ to downgrade U.S. debt.  Little brother EJ started the ball rolling.

  9. Swiss Trader–primary trader  41? 51?  What’s this?  LIBOR porn.
    No wonder Chilton’s doing nothing.  He should work at SEC.  They know about porn.  Hey Bart, you gonna be the pitcher or the receiver   How about Soixant-neuf. That works for everyone IMO.
    Maybe that hatchet faced Wonder Woman will show you something. Jeez, her face could break a mirror
    I’m old school.
      Casablanca. 1942  ‘I’m shocked! shocked! that gambling is going on in this establishment.’  ‘Round up the usual suspects’
    ‘Here are your winnings from the Roulette table, Inspector.’
    BTW  Downgrading the US Debt can be hazardous to your health.

    • Can you or somebody who knows please answer my question above? That $600m – and all the LIBOR fine cash – where does it go and what does it get spent on?  :O/

    • Some of the fine money goes to the federal coffers.  Sometimes, some goes to victims.  However, most of it goes to a multi-agency porn fund like AG12K says.

    • Bad news RSoptions.  The silver price manipulation investigation was dropped this last August.  The CFTC in their infinite wisdom has determined that the silver market is all on the up-and-up.  Apparently, we are all imagining the waterfall declines and the like.  But, not to worry, Commissioner Bart says he’s still pressing the issue and won’t cut his hair until he gets to the bottom of it.

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