During the financial crash (omg take note dowie), it's true that libor manipulation eased pressure off some banks, maybe even stopped them going bankrupt and since muggings the taxpayer would have had to bail them out it possibly did help us. That doesn't excuse it however and other times it was used for pure personal greed.
Finally! City Trader sentenced to 14 years for rigging Libor
- Thread starter scorza
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During the financial crash (omg take note dowie), it's true that libor manipulation eased pressure off some banks, maybe even stopped them going bankrupt and since muggings the taxpayer would have had to bail them out it possibly did help us. That doesn't excuse it however and other times it was used for pure personal greed.
Soldato
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Agree with this. He knew what he was doing was illegal, he just saw so much illegal activity in the banking industry that a) he saw it as the norm and b) he assumed they were untouchable. He was wrong
The papers say he was paid 3.5 million pounds for 9 months work at Citi before they sacked him and that only occurred because he was 'formally' charged. The bugger if they didn't know fine well what he was up to
yeah in some ways they helped him pull off the scam - he'd hired a PR firm and had some ridiculous story about running up a huge bar tab with a giant champagne bottle in some random club in Liverpool - naive journalists just lapped it up without question...
So much money, so much greed!
Him being paid that much made him greedy?
Seems to me the jury wanted to make an example of him. I too believe him.
Also 14 years lol. Who did he kill?