Banker pleads guilty to Libor fraud

ditchy said:

He will get 6 months hard labour in HMP Barbados open and £250 fine payable over 2 years .

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cjd said:

Harsh...but fair.

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spring hall convert said:

http://www.bbc.co.uk/news/business-29520685

Do we think they'll get more or less than the 6 months someone got for stealing a bottle of water in the London Riots?

http://www.telegraph.co.uk/news/ukn...s-Lidl-water-thief-jailed-for-six-months.html

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ditchy said:

Digging sand in that heat is hard work !!

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chimneys said:

Breaking rocks in the hot sun....................

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spring hall convert said:

http://www.bbc.co.uk/news/business-29520685

Do we think they'll get more or less than the 6 months someone got for stealing a bottle of water in the London Riots?

How has it affected you?
I presume you've never broken the speed limit or taken anything from a hotel bathroom?

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severnside gull said:

Wanker (sorry banker) not named? Bank not named?
Considerably greater protection afforded than (for example) someone charged with grabbing someone's boobs.

Seems to say a great deal about the "establishment"

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Vegas Seagull said:

spring hall convert said:

http://www.bbc.co.uk/news/business-29520685

Do we think they'll get more or less than the 6 months someone got for stealing a bottle of water in the London Riots?

How has it affected you?
I presume you've never broken the speed limit or taken anything from a hotel bathroom?

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I'd suggest you do some reading about what the Libor rate actually is. As I understand this fruad will have affected many of us with mortgages, credit cards or derivatives.

To compare it to stealing a shower cap is insane. (I don't drive btw)

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ditchy said:

He will be and the bank once sentenced

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spring hall convert said:

Vegas Seagull said:

I'd suggest you do some reading about what the Libor rate actually is. As I understand this fruad will have affected many of us with mortgages, credit cards or derivatives.

To compare it to stealing a shower cap is insane. (I don't drive btw)

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I thought he must have been trying to be ironic (and failing miserably)

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chimneys said:

Hang on, that was a deterrent punishment in an extreme situation, and hardly the norm:

"District Judge Alan Baldwin said the background of “serious public disorder” was an aggravating feature. Members of Robinson's family in the public gallery gasped with disbelief as the judge told him he would be going to prison.

The judge said: “The burglary of commercial premises in circumstances such as this where substantial and wholesale public disorder has taken place is in effect what is commonly called looting.”"

We cannot have rioting/looting and therefore extreme punishments are required to act as a deterrent, the message being, if rioting kicks off then stay away and you wont risk serious sanction.

Now back to the current case, I hope the merchant banker gets a serious punishment, again to act as a deterrent to others.

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severnside gull said:

spring hall convert said:

I thought he must have been trying to be ironic (and failing miserably)

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Dammit - needed a *safety wink*

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spring hall convert said:

http://www.bbc.co.uk/news/business-29520685

Do we think they'll get more or less than the 6 months someone got for stealing a bottle of water in the London Riots?

http://www.telegraph.co.uk/news/ukn...s-Lidl-water-thief-jailed-for-six-months.html

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cunning fergus said:

Now they are lining up the culprits for the fraud, we shouldnt forget those who created and oversaw the regulatory framework in which this kind of crime was allowed to florish.

We already have a mea culpa.............

http://www.theguardian.com/politics/2011/sep/26/ed-balls-sorry-labour-failures

Let's not stop justice at the bankers..............

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spring hall convert said:

Can we just for once not let this thread descend into 10 pages of meaningless left vs. right claptrap. The vast majority of people in this country have ceased to care whether it's the self serving c*** in blue or the self serving c*** in red who's f****** us in this particular situation. The truth of the matter is they're all f****** us.

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spring hall convert said:

Vegas Seagull said:

I'd suggest you do some reading about what the Libor rate actually is. As I understand this fruad will have affected many of us with mortgages, credit cards or derivatives.

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Do you know in which direction libor rates were manipulated higher or lower?
Doesn't make it any less of a crime but if his intention was to keep the rate lower then it's possible that you aren't the victim that you are making out.

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