There is also evidence that there was tacit encouragement of that manipulation by major financial authorities.
But he also believes the financial authorities may be applying the wrong remedies to the housing market.
Reports say the Vatican Bank had failed to inform the financial authorities where the money had come from.
In the spirit of civic betterment, today exceptionally, I offer a bit of advice to financial authorities all over the world.
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But a draft of the plan, obtained by the Reuters news agency, suggested that fresh funds would be injected by financial authorities.
All of which has caused plenty of headaches for the financial authorities.
The US financial authorities are considering prosecuting French bank Credit Lyonnais for conspiracy and money laundering, according to a report in the Wall Street Journal.
The Egyptian pound has fallen further against the US dollar, despite efforts by the country's financial authorities to halt its slide on the money markets.
So the Micks and Paddies borrow from the European financial authorities.
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In February this year, financial authorities banned Deutsche Bank's Korean unit from trading shares and derivatives for its own account for six months starting from April.
Suffice to say that Mr. Geithner has been in the cockpit for better or worse as financial authorities wrestled with the deteriorating economic conditions the past 18 months.
The AIG bailout shows how hard it is for America's financial authorities to steer a straight course through a crisis that is piling one systemic threat onto another.
And the managers correctly informed the financial authorities concerned.
Global financial authorities proved to be quite adept at reacting quickly, step-by-panicked step, to the financial crisis as it unfolded, making hasty dramatic moves dreamed up on the fly in panicked weekend meetings.
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In effect, the fine imposed by the British financial authorities will be the UK taxpayer paying the UK taxpayer, but there has been concern over how the US fine was to be paid.
If only global financial authorities could provide something more concrete than verbal assurances, anything at all to indicate they are able to see, and are willing to address, potential problematic conditions before they develop into the next crisis.
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Under instruction from the financial authorities, the industry is now going back through past sales and alerting customers to the possibility that they can now make a claim for compensation - a process which is generating a huge bill for the UK's banks.
It expects to reach a settlement soon with the UK's Financial Services Authorities relating to the same offences.
The two authorities financial situations have moved apart in the last two or three years.
Mr Andrews has previously said there will be financial penalties for authorities that do not participate in consortia.
Other policies like the New Homes Bonus are also designed to give authorities the financial incentive to resolve local problems.
But having gone to such lengths to boost confidence in the financial system, the authorities will be reluctant to take that risk.
The Liberal Democrats called on the government to ensure that the plan was fully resourced, to prevent extra financial burdens on local authorities.
While in Northumberland, Mr Healey will announce the government will operate the Bellwin scheme, which provides emergency state financial aid to local authorities to meet the costs of an emergency or disaster.
Qatari authorities throughout the financial crisis sought to protect the local banking sector with direct investments into domestic banks.
They have concerns that the support services offered by councils may be cut as local authorities feel the financial pinch.
What duty of care do the Shariah authorities owe the financial institutions?
But, according to authorities, the financial statements provided to investors were fictitious.
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Alevis have demanded official recognition as a separate religious minority and recognition for their places of worship, which would enable their religious authorities to get financial support from the Turkish state.
Local authorities need to face financial reality and look at the longer-term challenges.
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