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LIBOR rigging part 2: Difference between revisions
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That a global system was so badly conceived, configured and operated as to be defenceless against such “travesties”; that for decades it could neither see nor stop what we are now asked to accept was systemic, widespread, criminal activity — surely ''this'' is the elephant in the room, not cavalier twenty-five-year-olds behaving badly. That is a regrettable — ''inevitable'' — upshot of a far bigger failing further up the chain. We do ourselves, and not just Tom Hayes and his fellow defendants, a disservice if that is the view we take. | That a global system was so badly conceived, configured and operated as to be defenceless against such “travesties”; that for decades it could neither see nor stop what we are now asked to accept was systemic, widespread, criminal activity — surely ''this'' is the elephant in the room, not cavalier twenty-five-year-olds behaving badly. That is a regrettable — ''inevitable'' — upshot of a far bigger failing further up the chain. We do ourselves, and not just Tom Hayes and his fellow defendants, a disservice if that is the view we take. | ||
Whether Tom Hayes’ appeal will be heard by the Supreme Court remains to be seen, but, given the Court of Appeal’s declared inability to gainsay its own previous judgments in Hayes’ case, it is hard to see how a rational judicial system could tolerate anything else. We will have to see.{{Sa}} | Whether Tom Hayes’ appeal will be heard by the Supreme Court remains to be seen, but, given the Court of Appeal’s declared inability to gainsay its own previous judgments in Hayes’ case, it is hard to see how a rational judicial system could tolerate anything else. We will have to see. | ||
{{Sa}} | |||
*[[LIBOR rigging]] part 1 | *[[LIBOR rigging]] part 1 | ||
*[[LIBOR lowballing]] | *[[LIBOR lowballing]] | ||
*[[Interest rate swap mis-selling scandal]] | *[[Interest rate swap mis-selling scandal]] | ||
{{ref}} | {{ref}} | ||