Seeking Alpha

RBS managers took part in the manipulation of global interest rates, Bloomberg reports, while...

RBS managers took part in the manipulation of global interest rates, Bloomberg reports, while traders collaborated with counterparts at other banks. There was also no Chinese wall at RBS: money-market traders who submitted the bank's Libor estimates sat on the same desk as derivatives traders whose profits depended on the rate, with the latter even making submissions themselves sometimes.
Comments (2)
  • How is that even possible? Can you imagine the first day at work for these guys? "Welcome to RBS Bob, this is your desk. Now, this is the computer where you buy interest rate derivatives, and this is the computer where you manipulate the interests rates. Any question?" "No sir, everything looks fine here, thanks"
    25 Sep 2012, 08:23 AM Reply Like
  • That's our paid politicians and regulators at work. It's a wonder they even bother to cover up the JPM and GS logos on their checks.
    25 Sep 2012, 09:17 AM Reply Like
DJIA (DIA) S&P 500 (SPY)