Discussion in 'Current Affairs, News and Analysis' started by Tool, Feb 6, 2013.

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  1. Too lazy to check if there is already a thread on this, but some background:
    BBC News - Libor scandal: RBS fines expected to total £400m
    "Royal Bank of Scotland (RBS) is expected to be fined a total of about £400m ($625m) by UK and US regulators later as a result of the Libor scandal."

    What I would like to know is this. On aunty Beeb this morning, someone from a banking watchdog said that the fine would be paid by the bank from the bankers' bonus fund. A t'interweb search only reveals that bonuses CAN be in the millions, and something in the back of my mind says something along the lines of 25 people in London earned a bonus EACH of somewhere around £100m in 2011. How friggen big is that bonus fund?
  2. The bonus fund is very large and it goes some way to explain why property prices in parts of London continue to increase bucking the national trend.

    More to the point why have none of these ******* been charged? They fiddled the rate with a view to increasing the Banks profits and et al their own bonuses. The downside many paid more for loans over the years than they needed to.

    Any other industry and plod would be round, because they are bankers they are untouchable...

    Some of these ******* need to be strung up.. By and Large it is this industry which is responsible for the depression we find ourselves in.
  3. Don't let the stereotype get in the way of the truth comrade
  4. Manipulating LIBOR is not illegal then?

    Lending rules were relaxed so Banks could increase business, by the time the crash came they were lending mortgages to pretty much anything that had a pulse in the pursuit of ever increasing profits and bonuses.

    Everything goes pop and they come cap in hand to the taxpayer..

    Or is that not how it happened then?