The Financial Times reports that US DOJ criminal prosecutors have traveled to London as part of its forex probe to interview people potentially involved in the alleged manipulation of the forex market. The article points out an interesting distinction between US and UK law, where the US has the right against self incrimination whereas the UK authorities can compel potential defendants to answer questions. While there has been a lot of smoke regarding the forex investigations, many of us are still waiting to see the fire. What exactly did the banks do and how did they do it and for how long? Leaks to media sources are not the best way for the public at large to understand the scope of this thing.
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