E.U. fines three banks $520 million

Pre-reading questions: When you were a child, did you dream of having your own business? What do you think makes business exciting or interesting? Do you think it is difficult to be a bank manager? Discuss. Three international banks were fined by European Union officials for maneuvering the price of financial products. The banks were said to have been involved in a cartel from 2005 to 2008. Authorities found that the banks used various instant messaging services to share information on their trading and pricing strategies. E.U. penalized the banks totaling to $520 million, with JPMorgan Chase worth 337 million euros, France’s Credit Agricole with 114 million euros and London-based HSBC…
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