modern international bankers form a class of thieves the likes of which the world has never before seen. or, indeed, imagined. the scandal over Libor -- short for London interbank offered rate -- has resulted in a huge fine for Barclays bank and threatens to ensnare some of the world's top financiers. it reveals that behind the world's financial edifice lies a reeking cesspool of unprecedented corruption. the modern-day robber barons pillage with a destructive abandon totally unfettered by law or conscience and on a scale that is almost impossible to comprehend. More
And just where is the outrage?
Libor. no, not a country. a major, massive banking scam/manipulation. while our press covers the tomkat divorce drama...serious news about financial criminality is being brought to light overseas.
Investment banking is an organized scam masquerading as a business. It is defined by endemic conflicts of interest, systemic amoral behavior and extreme avarice. Many of its senior figures should be serving prison sentences or disgraced – and would have been if British regulators had been weaned off the doctrine of “light touch” regulation earlier and if the serious fraud office’s budget had not been emasculated by Mr Osborne. It is a tax on wealth generation and an enemy of honest endeavor – the beast that is devouring British capitalism.- guardian via naked capitalism
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