Shouting the odds.
Bloomberg News reports that Thomas Hayes, the former UBS and Citigroup, trader accused of rigging Libor, berated brokers and colleagues when things didn’t go his way, according to messages shown to jurors by prosecutors.
Hayes communicated daily with interdealer brokers, colleagues and traders at other banks to push yen Libor rates around to suit his positions, prosecutors told jurors on the 15th day of Hayes’s trial in London. If he felt they weren’t doing enough, he told them so, transcripts of calls and electronic messages show.
'Tom, don’t come down the line shouting the odds', one broker said in a July 2009 online chat after a heated exchange. 'I don’t need this tirade'.
'I don’t want moaning', Hayes told another broker. 'I want high 3m', a reference to three-month yen Libor.
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