One can only imagine the trial lawyers licking their chops. Has there ever been a class action lawsuit on behalf of the whole world?
How ironic that the industry that wants us to trust it with our funds can't manage its own money and is rife with illegal conduct.
Nigeria's Sabo markets should lead us to notice is that only a stronger culture of integrity will restore the currency of trust, still desperately sparse in our financial system.
As a citizen, I have a political question that I hope some independent financial expert can answer. In the LIBOR scandal we have heard about an intere...
The Libor scandal looks and smells like an old-fashioned financial fraud, but it also presents the latest example of a more modern phenomenon: the war against reality being waged with ferocity by special interests that profit from limited public awareness of what's actually taking place.
What has emerged from the Barclay's Bank inquiry is evidence that banks may have, in fact, been deliberately manipulating Libor rates for years.
When commentators say that there's no evidence of criminal wrongdoing in the LIBOR case, that just means the banks haven't volunteered any. But then, why would they?
There is not a single official in the U.S. or Europe brave enough to take on the bankers and say what needs to be said: If you want to gamble, be our guest. But do so on your own time, in your own home, and on your own dime.
Here's a free PR campaign idea for the banking sector: Big banks helped the economy, maybe saved your job, with some of their blatant Libor-market che...