FX Riggers Rode the ‘Essex Express’ Leading to $1.2 Billion Fine

David Bissinger, a partner at Bissinger, Oshman & Williams LLP, discusses the European Union fining five banks a total of $1.2 billion for colluding on foreign-exchange trading strategies with traders running two cartels in online chatrooms with colorful names like "Essex Express n’ the Jimmy," "Three Way Banana Split" and "Semi Grumpy Old Men." He speaks to Bloomberg’s June Grasso. See omnystudio.com/listener for privacy information.