http://www.ianfraser.org/the-wages-of-sin-bankers-on-the-fiddle/Quoted from the above article.....
An associate professor of economics and law at the University of Missouri-Kansas City, told the Sunday Herald that anyone who is found to have manipulated Libor or condoned such practices at a senior level in a bank should face criminal prosecution. He suggested UK based directors and staff, such as the former RBS chief executive Fred Goodwin, could be liable for extradition to the US.
Black, a world-leading expert on financial crime said:
“The reports of systematic falsification of Libor reports, if accurate, constitute felonies under US antitrust law that should be prosecuted vigorously, as should the systematic cover up.”
The US Justice Department has confirmed its criminal division is investigating banks other than Barclays. It said:
“The Justice Department’s criminal investigation into the manipulation of Libor and Euribor by other financial institutions and individuals is on-going.”
Industry sources said executives from Barclays, HSBC, Lloyds and RBS are at risk of extradition hearings, since evidence suggests that US dollar Libor was was one of the benchmarks that was manipulated. Seventy per cent of the $500 trillion global swaps market is based on US dollar Libor, with American counterparties likely to have been most affected.
Oh let's hope that Goodwin and Diamond are shipped back to the 'States. It would seem that those at the top are rotten to the core. We, the majority get fed pap. The likes of The X Factor and Big Brother keep the masses quiet and dumbed down.
Sometimes I get the feeling that the natives are getting restless but what it would take to have an British Spring god only knows.
Still at least I can sleep well at night safe in the knowledge that we are all in it together.
