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It is Charlie just made it down to the studio to talk about who might get arrested in the rate manipulative -- -- we don't know exactly who but just hear me out here.
Congress was given a briefing by Barkley say the first firm to be nailed in this whole Libor reading -- member -- -- Entered into a non prosecution.
Agreement -- -- government but that means they don't get prosecuted if they.
They give up evidence they held blah blah -- that -- a big -- -- but here's what they token congressional staffers that it -- was a pretty interest in meeting.
Where they laid out you know what they know about Libor Libor manipulation.
And what might come -- -- future they told congressional staffers said Barkley is that certain non prosecution agreement only covered the firm.
Not the traders.
I'm out on you is a little bit of a connect the dots that you -- when the Fed released those emails and and he'd get a transcripts of taped conversations they were Barkley is traders talking about.
Libor manipulation while we -- lower -- -- -- -- mayor's right.
This has a lot of people lot of tongues wagging in Washington.
On Wall Street where they have connections to Washington about who might who might be the place that the firm where they might be.
The the first arrest if you know I I'm just telling you they didn't say where they're coming after us first.
But they clearly may -- clearly implied that the non prosecution agreement only covered.
The firm and not the traders at the center of this of this burgeoning I guess them for lack -- a -- scandal we should point out -- it's been arrested bill individuals charged.
People lawyering up and people expecting -- So that's the important distinction here they paid a two thirds fine because essentially they whistle blowers right in all of this and knows what other people thought they were caught -- but they came -- -- know they they -- a non prosecution agreement -- -- Justice Department.
And what they said today it was that it only cover the firm meaning.
They're traders -- -- seconds let me just clarify so it will be -- Justice Department who will be doing these arrests if there are gonna understand and -- away all the British bank and what -- and that while they could -- but we understand the Justice Department is looking at this and what people are expecting.
Is that for breasts are imminent at some of the firms being.
Looked at and where that logic is.
If you put -- stuff together now it's Barkley -- made it really clear today it's only the firm that's covered by the non prosecution agreement.
-- after individual employees Charlie Gasparino breaking the news right here on after the bell thank you very.
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