The Wall Street Journal has published a nice graphic interface to analyse the LIBOR scandal which to date involves 17 financial institutions and 22 individuals.
So far there has been over $5 billion in penalties including RBS $610 million plus a further €391 million, Barclays $450 million, UBS $1.5 billion, Deutsche Bank €725 million ($984 billion), Societe Generale €446 ($606 million) and Rabobank $1,000 million with more to come. Of course, so far no one has gone to jail. Such fines should come directly from any bonus pools set aside for bankers and traders and not from shareholders and criminal prosecutions should be pursued wherever possible. This is the only way to clear up the banking mess and ensure conduct in the future is more ethical. The link to the Wall Street Journal graphics is here LINK 1
So far there has been over $5 billion in penalties including RBS $610 million plus a further €391 million, Barclays $450 million, UBS $1.5 billion, Deutsche Bank €725 million ($984 billion), Societe Generale €446 ($606 million) and Rabobank $1,000 million with more to come. Of course, so far no one has gone to jail. Such fines should come directly from any bonus pools set aside for bankers and traders and not from shareholders and criminal prosecutions should be pursued wherever possible. This is the only way to clear up the banking mess and ensure conduct in the future is more ethical. The link to the Wall Street Journal graphics is here LINK 1
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