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Up next on the scandal agenda for U.K. banks are swap products marketed aggressively to...

Up next on the scandal agenda for U.K. banks are swap products marketed aggressively to average-Joe borrowers from 2005-08. Rate swaps were designed to protect against rising rates. Trouble is, rates plummeted, forcing heavy charges onto the clients who signed up. Thus far, the banks have provisioned only small sums for possible legal remedies.
Comments (1)
  • bbro
    , contributor
    Comments (9445) | Send Message
     
    No one wants to take responsibility for risk taken???
    22 Aug 2012, 10:51 AM Reply Like
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