29
October
Lawsuits Allege Banks Manipulated Futures Trading by Amassing 'Enormous Short Positions'
29 October 2010 Forbes
Two traders have accused HSBC andJPMorgan Chase of manipulating the price of gold's smaller cousin, silver, in separate lawsuits filed in a Manhattan federal court Wednesday.
The suits allege that the two banking giants amassed "enormous short positions," and follow an investigation by the Commodity Futures Trading Commission (CFTC) ongoing since 2008.
