Libor: Bank of England implicated in secret recording

davomcdave

EdGasket wrote: »

What about these then?

http://www.bbc.co.uk/news/business-36737666

Plus them obviously.

padington

The last crash was so bad, the government was worried that the banks would close, the cash points would stop working and all hell would break out.

Maybe it was in the national interest ?

AG47

When will that panorama be available to watch?

Thrugelmir

davomcdave wrote: »

18 months, and counting, in a high security jail, for what is basically a victimless crime seems excessive to me.

Putting his activities into perspective.

US prosecutors allege that in Tokyo from 2006 to 2009 Mr Hayes’s success was driven by his attempted manipulation of the yen Libor rate on at least 335 of 738 trading days in collusion with other traders and brokers.

Mr Hayes supposedly said that a single basis point – or 0.01 per cent – move in the final yen Libor rate could result in a $2m profit for his trading book, according to prosecutors. It is alleged that on occasion UBS’s Libor rate submission was moved by several basis points.

wotsthat

Thrugelmir wrote: »

Putting his activities into perspective.

If you joined a gang and committed an armed robbery in your manor you'd get a 3 stretch if it was your first offence and you were remorseful (well who wouldn't be?).

I know these things are difficult to compare but can you imagine being robbed by an armed gang? Then compare that to the horror of maybe having paid 50p more (or less) for your mortgage.

Don't get me wrong I thing they should be banged up up and the key thrown away (bankers!) and they should spend the rest of their lives contemplating their crimes with people who throw McD's paper out of car windows.