CuriosityCat: LIBOR Scandal: UK banker: “We’re clean, but we’re dirty-clean, rather than clean-clean.”

The banking system is reeling from admissions by senior bankers that they acted in concert with other bankers to fix the setting of the interbank interest rate (LIBOR), so as to make dishonest profits. The BBC is running a series of shows on the culture of corruption that crept into international banks over the years, ...

CuriosityCat: The Anglo Tapes: Give us the %$%%$# moolah

The tapes that  have started a firestorm this week in Ireland do more than reveal the attitudes of the senior bankers involved in the destruction of Ireland’s financial system during the 2008 financial meltdown. They also show why the recommendations of the UK Parliament on legal standards of conduct for senior bankers should be implemented ...

CuriosityCat: Milan prosecutor locks employees of foreign banks out of their offices

Talk about direct action! The chief prosecutor of Milan was complaining about major UK and EU banks selling derivative products to Italian cities, with the cities taking on significant risks that were not properly explained. However, the banks simply ignored him, until he took direct action: Alfredo “Lock the doors!” Robledo Even though whistleblowers made ...