Seeking Alpha

Traders being investigated for possible Libor manipulation are unlikely to face criminal...

Traders being investigated for possible Libor manipulation are unlikely to face criminal charges, sources say, though their firms may be hit with record fines by year-end. RBS (RBS), Citigroup (C), UBS (UBS) and Deutsche Bank (DB) are among the firms being investigated by regulators worldwide.
Comments (7)
  • New Superhuman
    , contributor
    Comments (1182) | Send Message
     
    Do criminals in the financial industry ever face criminal charges? Perish the thought. The FTC are the criminals.
    13 Jun 2012, 03:52 AM Reply Like
  • kmi
    , contributor
    Comments (4236) | Send Message
     
    Putting them in jail may cause the financial system to collapse, so.... maybe bonuses?
    13 Jun 2012, 08:54 AM Reply Like
  • rraplee
    , contributor
    Comment (1) | Send Message
     
    So the decision is to NOT charge the criminal and actually favor the criminals. Meanwhile regulators fine the corporation which reaches into the pockets of the investors/shareholders.
    I'm thinking this is one of the problems with the stock market and yet it is never covered on TV. Americans lost a lot of wealth in 2008/9 (approx 40% loss of wealth for the middle class) and criminals never paid. Now money is out of the market (on the sidelines) cause most people lost too much and fear it will happen again.
    Do you think we need to all get out of the stock market and let the criminals and their criminal associates (regulators, judicial system, Congress, etc.) keep each other company while they pick each others pockets? I'm thinking a lot of investors are getting a clue.
    13 Jun 2012, 07:53 AM Reply Like
  • No. 1 Trader
    , contributor
    Comments (48) | Send Message
     
    Either way investors are footing the bill. Whether it's CEO's taking golden parachutes and executive compensation (millions of dollars in cash and stock) or the Gov't taking their share of the pot in fines it comes out of shareholder equity. The crimminals should be held personally liable for violating the law not the firms. The crimminals know the law as they have to take the series 7 to insure they know it. Passing the exam demonstrates that they know the law and knowingly violated it. I am sure the firms make more than they pay in fines otherwise they wouldn't allow it.
    13 Jun 2012, 08:17 AM Reply Like
  • bill d
    , contributor
    Comments (1906) | Send Message
     
    One of the few things to like about China - they EXECUTE the ba$tards.
    15 Jun 2012, 12:52 PM Reply Like
  • New Superhuman
    , contributor
    Comments (1182) | Send Message
     
    Great point, bill d. Something we can learn from the Chinese.
    21 Jun 2012, 10:13 PM Reply Like
  • No. 1 Trader
    , contributor
    Comments (48) | Send Message
     
    We should adopt that penalty here.
    17 Jun 2012, 01:17 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs