Arrêtez-vous, spéculateurs!
Taking a page from the playbook of their counterparts in Spain and Germany, France’s financial regulators say they intend to use any means necessary to crack down on evil, unpatriotic, rumour-mongering speculators.
From Reuters on Friday:
French financial authorities will work with intelligence services to crack down on speculators seeking to profit from the debt crisis by spreading unfounded rumors, the head of the AMF markets watchdog said on Friday
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If necessary, investigators would look at “everything which might have been exchanged in the form of emails, text messages, anything which might have been put up on internal bulletin boards at banks or funds,” he said.
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Jouyet said it would be particularly scandalous if it emerged that banks which had benefited from state support following the financial crisis of 2008 had been involved in dubious speculative operations against the euro.”If it turns out to be institutions helped by the state — something that I can scarcely imagine — it would be a pure scandal,” he said.
Ouf.
Related links:
The Spanish inquisition – FT Alphaville
The not entirely unexpected Germano-Greek inquisition – FT Alphaville
BaFin says no evidence of malign Greek CDS speculation – FT Alphaville
Greece v everyone, BaFin and speculators edition – FT Alphaville