RBS Hit With £390m Fine For Fixing Libor

[dipsydoodle]

Source: Sky News




Regulators have fined the taxpayer-owned bank a total of over £390m for rigging the Libor inter-bank.

The Financial Services Authority in the UK fined RBS a total of £87.5m for fixing Libor.

In the US, the Commodity Futures Trading Commission ordered the bank to pay a penalty of over £207m and the Department for Justice fined the bank £96m.

RBS is accused of attempting to manipulate the inter-bank lending rate as late as 2010 - with instances dating back to 2006.

Read more: http://news.sky.com/story/1048428/rbs-hit-with-390m-fine-for-fixing-libor

[Dustlawyer]

1. Just a fraction of what they stole! Cost of doing business they will say privately.

In a year or two, the person that set the fine will start work for them, or one of their partners in crime, for a huge salary! The rest of the world will sigh and move on. What's wrong with this picture?

[Jerry442]

2. For years there have been two justice systems.

One for the Haves and one for the Have-nots. A decade from now, they probably won't even bother with the fines.

[Dustlawyer]

3. True dat!