Why isn’t Anybody (in the whole f…ng world) freaking out about the LIBOR banking scandal? Is there a monthly dose of scandal we can absorb?

THE INTERNET POST

The LIBOR manipulation story has exploded into a major scandal overseas. The CEO of Barclays, Bob Diamond, has resigned in disgrace; his was the first of what will undoubtedly be many major banks to walk the regulatory plank for fixing the interbank exchange rate. The Labor party is demanding a sweeping criminal investigation. Mervyn King, Governor of the Bank of England, responded the way a real public official should (i.e. not like Ben Bernanke), blasting the banks:

It is time to do something about the banking system…Many people in the banking industry are hardworking and feel badly let down by some of their colleagues and leaders. It goes to the culture and the structure of banks: the excessive compensation, the shoddy treatment of customers, the deceitful manipulation of a key interest rate, and today, news of yet another mis-selling scandal.

CONTINUED HERE

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2 Responses to “”

  1. Thanks for the re-blog….very true…the whole world is mute on the scandal. The banksters have everyone everywhere with their hands on the wall.

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