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ckn

Banking fraud

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With Lloyds being fined £218m for Libor fraud, that's three of the big five banks in the UK that have now been fined a 9 figure sum for conspiring to defraud by fixing the Libor interest rate.  An estimate on telly suggested that the full cost is probably over £1bn in the amount lost due to this deliberate conduct.

 

So... if you defraud the government of a five figure sum of benefits, you go to jail and are rightly abused.  If you defraud the country of over £1bn you get fined a portion of it and not a single individual gets a criminal conviction.  Surely there should be a few people losing their freedom over this for a very long time.  Unlikely though as it's seemingly not in the public interest.

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With Lloyds being fined £218m for Libor fraud, that's three of the big five banks in the UK that have now been fined a 9 figure sum for conspiring to defraud by fixing the Libor interest rate.  An estimate on telly suggested that the full cost is probably over £1bn in the amount lost due to this deliberate conduct.

 

So... if you defraud the government of a five figure sum of benefits, you go to jail and are rightly abused.  If you defraud the country of over £1bn you get fined a portion of it and not a single individual gets a criminal conviction.  Surely there should be a few people losing their freedom over this for a very long time.  Unlikely though as it's seemingly not in the public interest.

It's jealous people like you that are killing this country. Why won't you leave entrepreneurs alone? They should be encouraged not attacked.

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