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Wed Feb 6, 2013, 08:27 AM

RBS Hit With 390m Fine For Fixing Libor

Source: Sky News




Regulators have fined the taxpayer-owned bank a total of over 390m for rigging the Libor inter-bank.

The Financial Services Authority in the UK fined RBS a total of 87.5m for fixing Libor.

In the US, the Commodity Futures Trading Commission ordered the bank to pay a penalty of over 207m and the Department for Justice fined the bank 96m.

RBS is accused of attempting to manipulate the inter-bank lending rate as late as 2010 - with instances dating back to 2006.

Read more: http://news.sky.com/story/1048428/rbs-hit-with-390m-fine-for-fixing-libor

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Reply RBS Hit With 390m Fine For Fixing Libor (Original post)
dipsydoodle Feb 2013 OP
Dustlawyer Feb 2013 #1
Jerry442 Feb 2013 #2
Dustlawyer Feb 2013 #3

Response to dipsydoodle (Original post)

Wed Feb 6, 2013, 09:31 AM

1. Just a fraction of what they stole! Cost of doing business they will say privately.

In a year or two, the person that set the fine will start work for them, or one of their partners in crime, for a huge salary! The rest of the world will sigh and move on. What's wrong with this picture?

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Response to Dustlawyer (Reply #1)

Wed Feb 6, 2013, 10:58 AM

2. For years there have been two justice systems.

One for the Haves and one for the Have-nots. A decade from now, they probably won't even bother with the fines.

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Response to Jerry442 (Reply #2)

Fri Feb 8, 2013, 03:15 PM

3. True dat!

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