Barclays just the tip of the iceberg as banking braced for more scandals

[malaise]

http://www.guardian.co.uk/business/2012/jul/08/banking-scandals-barclays
<snip>
Barclays' fine covers two main offences: the first, that traders helped each other out by fiddling the rates they reported to the British Bankers Association from about 2005; the second, that Barclays massaged its submissions lower during the banking crisis in 2008, to protect the bank's public image and prevent the government stepping in to rescue it.

When the regulators – the Financial Services Authority in the UK, and in the US the commodity futures trading commission and the department of justice – published their findings, they made it clear that Barclays was just one of the banks under investigation. As as many as 20 others are co-operating with the authorities.

Deutsche Bank became the latest to see its name linked with Libor-fixing on Friday, when the German financial regulator, Bafin, was revealed to be investigating it. Shares in the German bank fell although it had already admitted that it had been subpoenaed by a number of authorities in Europe and the US earlier in the year.

As more findings emerge over the coming months, the public is likely to be left with the impression of an entire industry rife with what ex-Barclays boss Bob Diamond repeatedly told MPs last week was, "reprehensible behaviour".
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[aquart]

1. PUT A BANKER IN JAIL TODAY.

One a day, every day...better than an apple for what ails us.

[Sherman A1]

6. And

I believe that jail should be a fine Federal Facility on a island in the Caribbean which I understand includes various water sports. These guys are the true terrorists.........

[malaise]

8. Did anyone on the Sunday talk shows mention that Bob Diamond,

the fired CEO of Barclays, was the host in chief for Willard's fundraiser in London this month.
He either jumped or was pushed when he was asked to resign.

[Spazito]

2. Good read!

"As more findings emerge over the coming months, the public is likely to be left with the impression of an entire industry rife with what ex-Barclays boss Bob Diamond repeatedly told MPs last week was, "reprehensible behaviour"."

One quibble with the article; the public won't be left with the "impression of an entire industry rife with.....reprehensible behaviour", it already damn well KNOWS the entire industry is rife with reprehensible, appalling, criminal behaviour.

[malaise]

7. +1,000

[alterfurz]

3. "I don't call them 'bankers'...

...I call them 'French Revolution re-enactors.'" -- Andy Borowitz

[Lionessa]

4. Oh, whoop-ti-do, it's not like anything will be done about any of it.

The past 6 years have proven that.

I mean we do need to know, but the idea that any prosecution or even reforms that would be meaningful to the masses is really doubtful.

[CanonRay]

5. I'll bet Barclay's fine is 2% of it's profit from the theft

so that would be double the normal fine for such things.