Stop Making Sense

Rowan Bosworth-Davies writes:

Three former Barclays employees have been charged over the alleged manipulation of Libor benchmark interest rates. The Serious Fraud Office (SFO) named them as Peter Charles Johnson, Jonathan James Mathew and Stylianos Contouglas. The men are accused of conspiracy to defraud between 2005 and 2007 and are due to appear at London’s Westminster Magistrates’ Court on a date still to be announced. The SFO said its Libor investigation was continuing.

Just in case you hadn’t noticed recently, the City and its banks have been continuing to live down to their shabby reputations and men like these represent but the visible tip of an iceberg-sized problem of alleged criminogenisis within the Square Mile. The City of London has, over the past few years, become synonymous with every kind of skulduggery, sharp practice, flaky conduct and downright criminality it is possible to imagine. The banking sector has developed into…

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