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13 people charged here: http://www.sfo.gov.uk/press-room/latest-press-releases/press-releases-2014/libor-investigation-further-charge-.aspx http://www.sfo.gov.u

13 people charged here: http://www.sfo.gov.uk/press-room/latest-press-releases/press-releases-2014/libor-investigation-further-charge-.aspx http://www.sfo.gov.uk/press-room/latest-press-releases/press... two more here: http://www.justice.gov/opa/pr/two-former-rabobank-traders-indicted-alleged-manipulation-us-dollar-yen-libor-interest-rates http://www.justice.gov/opa/pr/two-former-rabobank-traders-in...

spuiszis 11y ago
These are outliers though. Aside from insider trading cases, the norm is institution pays $X to settle and everything goes away (tax-deductible btw).
- bko 11y ago
  Replace 'institution' with 'shareholders'. That's why banks like DB trade for a price to book of < 1 (0.6 today). These settlements are a direct transfer from people's 401k to the pocket of politicians. > More than $5 billion has flowed into New York’s state and city accounts this year from settlements with BNP Paribas SA over sanctions violations and Credit Suisse Group AG for helping Americans evade taxes. In the city, the bounty has already funded a $160 million program to outfit police with tablet computers and a $35 million initiative to prosecute rapists. The New York governor plans to use a big portion to rebuild Rochester, Syracuse and other upstate cities far removed from the banks and their crimes. [0] [0] http://www.bloomberg.com/news/articles/2014-12-04/new-york-officials-jockey-as-bank-settlements-create-windfall http://www.bloomberg.com/news/articles/2014-12-04/new-york-o...
late2part 11y ago
Looks like the trial is underway or so [1] Still, only 13 people charged in what as institutionalized corruption. I believe the leaders of these companies were knowledgeable about what happened, or should have been. [1] http://www.reuters.com/article/2015/03/20/rabobank-libor-allen-idUSL2N0WM2AC20150320 http://www.reuters.com/article/2015/03/20/rabobank-libor-all...
- sseveran 11y ago
  It would probably be difficult to prove that senior leadership knew about it unless there is an email trail.
- cm2187 11y ago
  This is not corruption. Fraud rather.
- rrrx3 11y ago
  Should have been, yes. Actually knowledgable - not in a million years. Those who sit on the Group Executive Committee are extremely far removed from the day to day goings on. Running a 100k+ person bank with 4 completely different divisions is totally different from running a desk. The odds that someone on the GEC even knows the name of a person on a desk lower than MD or D is slim to none, unless that person is an absolute rockstar.

spuiszis 11y ago

These are outliers though. Aside from insider trading cases, the norm is institution pays $X to settle and everything goes away (tax-deductible btw).

bko 11y ago
Replace 'institution' with 'shareholders'. That's why banks like DB trade for a price to book of < 1 (0.6 today). These settlements are a direct transfer from people's 401k to the pocket of politicians. > More than $5 billion has flowed into New York’s state and city accounts this year from settlements with BNP Paribas SA over sanctions violations and Credit Suisse Group AG for helping Americans evade taxes. In the city, the bounty has already funded a $160 million program to outfit police with tablet computers and a $35 million initiative to prosecute rapists. The New York governor plans to use a big portion to rebuild Rochester, Syracuse and other upstate cities far removed from the banks and their crimes. [0] [0] http://www.bloomberg.com/news/articles/2014-12-04/new-york-officials-jockey-as-bank-settlements-create-windfall http://www.bloomberg.com/news/articles/2014-12-04/new-york-o...

late2part 11y ago

Looks like the trial is underway or so [1] Still, only 13 people charged in what as institutionalized corruption. I believe the leaders of these companies were knowledgeable about what happened, or should have been. [1] http://www.reuters.com/article/2015/03/20/rabobank-libor-allen-idUSL2N0WM2AC20150320 http://www.reuters.com/article/2015/03/20/rabobank-libor-all...

sseveran 11y ago
It would probably be difficult to prove that senior leadership knew about it unless there is an email trail.
cm2187 11y ago
This is not corruption. Fraud rather.
rrrx3 11y ago
Should have been, yes. Actually knowledgable - not in a million years. Those who sit on the Group Executive Committee are extremely far removed from the day to day goings on. Running a 100k+ person bank with 4 completely different divisions is totally different from running a desk. The odds that someone on the GEC even knows the name of a person on a desk lower than MD or D is slim to none, unless that person is an absolute rockstar.