The post you are reporting:
I've got to do a research on this rate-fixing scandal, but my workload has been considerable and will be so this week too, and haven't got round to it yet.
This scandal promises to be something big, massive, that will have serious consequences.
Some months back, the Government promised prison for reckless bankers. But this goes beyond being reckless, it seems to be serious fraud on an industrial (banking) scale as never seen before.
It would appear that sophisticated rate-calculations that normal people cannot see through, have been rigged by some banks, who could see through them and figure out how to earn massive sums.
It looks like many people have been involved in the rigging, and the sums of money illegally garnered could be in the billions.
My belief is, that many bankers bonuses from years gone by may have to be coughed up and returned, if it can be proven that some banks have made illicit earnings.
Add to that any court-cases for serious fraud, and the many claims that will be made by people who feel they have been cheated, and perhaps this time round we will see a collapse of the merry-go-round system of chair-executive bonus-grabbers, as these will not be able to claim "I didn't know"!
