Lloyds Bank Settles With US, UK Over Market FixingI hope at least one of the 9 gets a prison term.
LONDON — Jul 28, 2014, 3:04 PM ET
By DANICA KIRKA and MARCY GORDON Associated Press
Lloyds Banking Group is paying $369 million to U.S. and British authorities to settle allegations it manipulated a key global interest rate. The U.S. and British regulators said Lloyds attempted to manipulate, and in some cases succeeded, in manipulating the London interbank offered rate, known as LIBOR.
British banks Barclays and Royal Bank of Scotland, Switzerland's biggest bank, UBS, and Rabobank of the Netherlands have also been fined for LIBOR rigging. Nine individuals have been criminally charged by the Justice Department. The settlements with Lloyds bring the banks' total payments to date to nearly $4 billion.
Monday, July 28, 2014
If you rely on FOX News, you probably never heard about it in the first place because FOX does almost everything it can to defend the Free Market Fairy. Fortunately, we have other sources:
Posted by Steve J. at 2:47 PM