f1_fan

iTrader: (9)

FFS, when are these bankers going to be held to account for their wrongdoings? What will it actually take for an inquiry into their actions?

Cameron is all too happy to have the press investigated via the Leveson Inquriy while these people continue to enage in one crooked deal after another!

Leslie

They must be like politicians, their power protects them.

Les

Ant

Is this this huge fine for manipulating interest rates?

I could be wrong as I only caught a glimpse of it.


They need shooting!

boxst

Although what they did was unethical I don't believe it broke laws.

It must be very tempting within one organisation to use interdepartmental information to make the organisation as a whole look good.

It takes very tough legislation to stop it.

ScoobyWon't

No bonus this year for Diamond Bob then

hodgy0_2

the fine is not that big, in context -- a few multiples bigger than BD bonus

Ant

In context you're probably right , where do this fine go? Back into the tax system?

hodgy0_2

i heard on the radio -- half to us (tax system) and half to the yanks

Leslie

Laws or not, unethical behaviour cannot be justified in an honest society or else it will eventually all fall apart. These actions lead onto worse actions if people are allowed to get away with it.

Les

jonc

Indications are that the Libor rate was adjusted downwards so this would have meant lower interest rates for borrowers with certain like buy-to-let mortages for example. Savers are not affected since those rates aren't linked to Libor.

hodgy0_2

Surely that is a happy coincidence

They did it for personal gain, whether the general public were positively or negatively affected did not come into it

David Lock

Well I have never liked Diamond so I wonder if he will hang on?

Looks like one of those blokes when you need to count your fingers after a hand shake.

Remember him lying in the commons?

dl

jonc

If he doesn't he'll just do a Fred Goodwin and sit back and relax on a multimillion pound retirement. Besides today is a good day to bury some bad news...

http://www.telegraph.co.uk/news/poli...p-her-job.html
http://www.telegraph.co.uk/finance/f...zone-bill.html
http://www.telegraph.co.uk/finance/e...an-feared.html
http://www.telegraph.co.uk/news/poli...cco-giant.html

hodgy0_2

no doubt that the general public have been terribly let down by Politicians, the media and the finance industry

a triple way shafting

GlesgaKiss

Pretty sore.

Ant

Your boyfriend been at it again?

Gear Head

iTrader: (2)

Won't this have major reprocussions for mortgages?
If the rate has been forced up with no justification, shouldn't they now be looking at compensation people?

f1_fan

iTrader: (9)

Jesus, it beggars belief really. They've only bene in power 2 years and already it's like the last days of the the Brown or Major governments ... ah well at least I wasn't daft enough to vote for them!

Not really sure what a Tory MP has to do to actually lose his/her job to be honest.

As for the recession being worse than first reports... no ****

markjmd

iTrader: (11)

Maybe I'm missing something here, but I don't quite get how the financial authorities can impose enforceable fines if no actual law was broken.

Chip

Errrrr,

And remind me who was in power then.

Dingdongler

What in god's name are you talking about? Are you saying all our economic woes are the result of the last two years of govt?!

f1_fan

iTrader: (9)

Did yiou read the links? No, thiought not, all too eager to jump to the defence of your beloved Tories

They are the same as the other lot - corrupt, dishonest and a ******* shambles!

f1_fan

iTrader: (9)

Read the links Chip and please can we stop this he said/she said between the Tories and NL, they are all the same... greedy self serving career politicians whose only goal in life is to line their pockets and those of their mates!

hodgy0_2

Sure, and leads to quite a few big arseholes

f1_fan

iTrader: (9)

Tony Robinson - saying what many feel

jonc

I'm sure he has a cunning plan for the bankers!

tony de wonderful

They're just making money and being successful F1. Are you jealous?

Luan Pra bang

How many MP's do you know ?

f1_fan

iTrader: (9)

It's how they are being successful and making money that matters and no I am not jealous of that, who would be?

TelBoy

A lot of people, f1, if i'm honest. Fortunately i was never involved in Libor setting but i know a few guys who are/were. There's not much i can do to defend the price action, other than to say that it would take a very, very unusual person who didn't manipulate a price for "somebody's" benefit if it wasn't actually against the law. All too easy to criticise when it's not yourself having to send in the quotes.

Barclays were brave in putting up their hands and co-operating. Other banks have done exactly the same thing as it was considered "normal practice" in some bizarre way, and Barclays' fine might seem small to what might be dished out to other banks, we'll have to wait and see.

What people don't realise, perhaps, is that the Libor fixings today, right now as we live and breathe are largely indefensible because they're unprovable. But is anyone jumping up and down about them? No, because the media hasn't got hold of it. So much out there that people don't know about. And not just in banking.