NYT: UBS Has Impressive Record Of Attracting Scandal, Avoiding Consequences

07/21/2012 01:45 pm ET
  • JAMES B. STEWART The New York Times

As the Justice Department weighs the possibility of criminal charges in the unfolding Libor rate-setting scandal, it may want to consider the record of the Swiss banking giant UBS.

At UBS, a series of immunity, nonprosecution and deferred prosecution agreements in recent years — evidently the government’s preferred approach to corporate crime — seems to have had scant, if any, deterrent effect.

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