{"id":3766,"date":"2014-12-30T15:21:26","date_gmt":"2014-12-30T20:21:26","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3766"},"modified":"2014-12-30T15:21:26","modified_gmt":"2014-12-30T20:21:26","slug":"the-cartel-how-bp-got-insider-tips-through-a-secret-chat-room-bloomberg","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3766","title":{"rendered":"The Cartel: How BP Got Insider Tips Through a Secret Chat Room – Bloomberg"},"content":{"rendered":"

The Cartel: How BP Got Insider Tips Through a Secret Chat Room – Bloomberg<\/a>.<\/p>\n

Halfway down a muddy, secluded road on marshland in suburban Essex sits\u00a0Wharf Pool<\/a>, a lake stocked with some of the biggest freshwater fish you will ever see.<\/p>\n

A white sign with red lettering reads: \u201cPrivate Syndicate: Strictly Members Only.\u201d A metal gate, a barbed-wire fence and two CCTV cameras bar the way. Anglers hoping to spend time on the lake\u2019s carefully tended banks must join a waiting list. Those who make it to the top pay a membership fee that buys them the chance to catch a carp that weighs more than a Jack Russell. There are hundreds of them swimming beneath the surface. It\u2019s close to shooting fish in a barrel.<\/p>\n

An hour away by train, in London\u2019s financial district, the lake\u2019s owners ply their trade. Wharf Pool was purchased for about 250,000 pounds ($388,000) in 2012 by Richard Usher, the former\u00a0JPMorgan Chase & Co. (JPM)<\/a>\u00a0trader at the center of a global investigation into corruption in the foreign-exchange market, and Andrew White, a currency trader at oil company\u00a0BP Plc. (BP\/)<\/a><\/p>\n

<\/p>\n

<\/a><\/a>…click on the above link to read the rest of the article…<\/span><\/span><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The Cartel: How BP Got Insider Tips Through a Secret Chat Room – Bloomberg. Halfway down a muddy, secluded road on marshland in suburban Essex sits\u00a0Wharf Pool, a lake stocked with some of the biggest freshwater fish you will ever see. A white sign with red lettering reads: \u201cPrivate Syndicate: Strictly Members Only.\u201d A metal […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[61,63,2272,2269,2273,1837,2267],"class_list":["post-3766","post","type-post","status-publish","format-standard","hentry","category-economics","tag-banking","tag-banks","tag-bp","tag-cartel","tag-fx-manipulation","tag-fx-rigging","tag-jp-morgan"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3766","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3766"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3766\/revisions"}],"predecessor-version":[{"id":3767,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3766\/revisions\/3767"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}