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

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.
Comments (2)
  • 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
  • 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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