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UBS (UBS) doesn't just face a fine of $1B for rigging Libor and other inter-bank rates, it will...

Friday, December 14, 2012, 8:02 AM ET
UBS (UBS) doesn't just face a fine of $1B for rigging Libor and other inter-bank rates, it will reportedly become the first major bank in over a decade to admit criminal wrongdoing. A settlement could come on Monday. Meanwhile, prosecutors didn't indict HSBC (HBC) for money laundering due to fears about the effect on the financial system. Senator Charles Grassley was not impressed.

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This news story has 2 comments:

minecanary Comments (216)

Can't indict even the blatant criminal bankers because it might negate some of Bennie's beautiful printing. So much for Dud-Frank

14 Dec 2012, 09:58 AM Reply Like

davidbdc Comments (2990)

Wouldn't allowing money laundering be endangering the financial system? Aren't others at large institutions going to say - geez we won't be prosecuted for much of anything and do things we haven't even thought about?

What nonsense.

14 Dec 2012, 11:41 AM Reply Like

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