Libor trial
bbc.co.uk
Libor trial
1–10 of 16 posts
Re: Libor trial
#2It sounds like the trial will focus on Mr Hayes, but this was only possible because of the collaborative effort of other banks. His co-conspirators should be tried as well.
Re: Libor trial
#3> The court also heard that Mr Hayes had been diagnosed with mild Asperger's syndrome.
Why am I not surprised...
Re: Libor trial
#4It sounds like the trial will focus on Mr Hayes, but this was only possible because of the collaborative effort of other banks. His co-conspirators should be tried as well.
Of course, it is going to focus on him; it is his trial. However, the article says:
The first criminal trial . . .
So, it sounds like there are more to come.
Re: Libor trial
#5I'm so glad they're finally putting a whipping boy on trial.
Now, I know some of you are a little skeptical about the efficacy of punishing whipping boys, but let me explain. We can't possibly whip banking executives when they do something wrong because we live in a civilized society that respects the "divine right of banking executives". Instead, we assign each executive a whipping boy and the executive then develops a strong emotional bond to the whipping boy. When the executive does something wrong, he will be forced to watch his close companion, the whipping boy, suffer for his crimes.
This will act as an effective deterrent for any future wrong doing for the executive and send a strong message to other executives their crimes might jeopardize the well-being of their own whipping boys. Some may call me optimistic, but I think this single act of justice will have the desired effect of transforming our banking system. If bank executives know they're putting their whipping boys in real jeopardy, I think that will force their hand to rethink their organization's incentive systems and institute checks and balances into their organization to reward honesty, transparency and compassion.
Re: Libor trial
#6I'm so glad they're finally putting a whipping boy on trial. Now, I know some of you are a little skeptical about the efficacy of punishing whipping boys, but let me explain. We can't possibly whip banking executives when they do something wrong because we live in a civilized society that respects the "divine right of banking executives". Instead, we assign each executive a whipping boy and the executive then develop…
Bankers are being tried, see, for instance: http://uk.reuters.com/article/2015/02/13/uk-iceland-bankers-...
Re: Libor trial
#7if any hacker wants to help disrupting the banks: http://mapthebanks.com/
Re: Libor trial
#8I'm so glad they're finally putting a whipping boy on trial. Now, I know some of you are a little skeptical about the efficacy of punishing whipping boys, but let me explain. We can't possibly whip banking executives when they do something wrong because we live in a civilized society that respects the "divine right of banking executives". Instead, we assign each executive a whipping boy and the executive then develop…
Bankers are being tried, see, for instance: http://uk.reuters.com/article/2015/02/13/uk-iceland-bankers-...
I can't tell if you're being funny or not. If you are, well played. For those who don't get the joke, Iceland was really on the verge of collapse and took extraordinary measures to save their economy. If you did what they did in the US or UK, you'd be labeled a communist. Basically, Iceland's reaction to the credit crisis is the complete antithesis of what has happened in the rest of the world.
Re: Libor trial
#9It sounds like the trial will focus on Mr Hayes, but this was only possible because of the collaborative effort of other banks. His co-conspirators should be tried as well.
I believe this is a test case, as it's not entirely clear if manipulating libor was against UK laws, as they were at the time.
Re: Libor trial
#10if any hacker wants to help disrupting the banks: http://mapthebanks.com/
FYI this is a project by https://opencorporates.com/ (the largest open database of companies in the world).