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HomeBarclays Libor Scandal: Reports Regulators Knew; Time for Independent Investigation and Eliot Spitzer
Posted by Larry Doyle on July 3rd, 2012 11:06 AM |
When the proverbial “you know what” has hit the fan on Wall Street over the last few years, the defense of those occupying executive offices has consistently been, “the regulators were all over the firm and did nothing.”
With the industry in full defense mode over the fallout from the Libor price-fixing scandal, we catch a strong and overpowering sense of this stench filtering into the public domain once again. Bloomberg highlights as much in a short must-view video clip, Bad Bankers May Face Criminal Charges,
“Fraud is a crime in ordinary businesses, why shouldn’t it be so in banking?” (more…)
Barclays Libor Scandal: How Big Will This Get?
Posted by Larry Doyle on July 3rd, 2012 7:29 AM |
The earthquake that rocked Wall Street and the global financial markets in 2008 continues to reverberate today. Just ask Bob Diamond, CEO of Barclays . . . or I should say, former CEO of Barclays.
Diamond, the once high-flying American banker was dethroned overnight as the chief executive of the UK-based bank as public pressure and outrage grow over the current Libor price-fixing scandal. Do not think for a second that the CEOs of other large global banks are not sufficiently concerned of their own standing this morning. As well they should be. (more…)
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Posted in General, Libor | 13 Comments »