Tuesday, 29 July 2014

The Daily Mail gets it right - throw crooked bankers in jail

29-07-2014 jailbankers
London’s Daily Mail reports this morning that the clamour grows as the Bank of England chief says Lloyds traders ‘clearly broke the law’. In summary:
  • Mark Carney says Lloyds staff involved may be guilty of ‘criminal conduct’
  • Bank ripped off Treasury during financial crisis with creditworthiness lies
  • It gained access to tens of billions from Government at favourable rates
  • MP says public don’t understand why rogue bankers haven’t been jailed
29-07-2014 fixingrates
The Mail was not alone in taking a hard line on banking practices. That daily bible of the financial community The Financial Times reported how Lloyds Banking Group has been criticised for “highly reprehensible” behaviour by the Bank of England after it became the first lender to be fined for rigging rates to cut the cost of a financial crisis rescue scheme, effectively costing the taxpayer millions of pounds.
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