Former City trader Tom Hayes given 14-year sentence for Libor rigging

a reply to: crazyewok

Absolutely, it's world wide scandal but after all this time so far they've convicted 1 lonely trader. That's how it works for these white collar criminals, the low level guys are the fall guys. If anyone is gonna be caught it'll be them, meanwhile the big fish just keep on swimming.

a reply to: Swills

Your thread crapped this thread and yet you have never once shown anything to support you BS!!!

Prove your point or it is moot.

Bottom line is the UK is doing better than the US of A in which 0, I repeat zero went to jail over tarp!

Score 1 for the UK Swills O

originally posted by: AlaskanDad
a reply to: greencmp

From your source:

Because Libor is used in US derivatives markets, an attempt to manipulate Libor is an attempt to manipulate US derivatives markets, and thus a violation of American law. Since mortgages, student loans, financial derivatives, and other financial products often rely on Libor as a reference rate, the manipulation of submissions used to calculate those rates can have significant negative effects on consumers and financial markets worldwide.

Well, that's what I get for agreeing with you, duly noted.

a reply to: greencmp

My bad, I took that as a rebuttal statement.

Apologies

AD

:embarrassed:

a reply to: AlaskanDad

No worries at all, I'm a little embarrassed myself for being petty.

Cheers!

a reply to: AlaskanDad
LIBOR is completely unconnected to financial bailouts (which the UK also did).
It is scandal that happened under lax UK regulations and oversight. I don't think we can claim moral high ground on the basis of one conviction of a relatively junior member of staff.

a reply to: AlaskanDad

Good god what are you talking about? What thread of mine are you referring to? Prove what?

It's true, the UK actually pushes criminal charges while the U.S. mostly fines these banks, although there are some criminal investigations going on.

So all in all, I'd say agree to disagree but I really have no idea what you're talking about, mostly.