THE MOTU GET CAUGHT AGAIN

F. A. Hayek thought that capitalist individualism is a system in which "bad men can do least harm" but they certainly can do plenty of harm, can't they?

JPMorgan, Lehman, UBS Named in Bid-Rigging Conspiracy (Update1)
By William Selway and Martin Z. Braun

March 26 (Bloomberg) -- JPMorgan Chase & Co., Lehman Brothers Holdings Inc. and UBS AG were among more than a dozen Wall Street firms involved in a conspiracy to pay below-market interest rates to U.S. state and local governments on investments, according to documents filed in a U.S. Justice Department criminal antitrust case.

A government list of previously unidentified “co- conspirators” contains more than two dozen bankers at firms also including Bank of America Corp., Bear Stearns Cos., Societe Generale, two of General Electric Co.’s financial businesses and Salomon Smith Barney, the former unit of Citigroup Inc., according to documents filed in U.S. District Court in Manhattan on March 24.