Lloyds suspends 7 employees in wake of Libor rigging scandal

[Martin@AS Financial]

Lloyds have been fined 218 million for rigging the LIBOR rate which is a 72 million saving on what Barclays got.


"None of the suspended employees have been named, but the report says up to 22 people are involved in the manipulation. Six had already been suspended by the bank before the fine was issued, while the rest have already left".


Lloyds suspends 7 employees in wake of Libor rigging scandal | News | Mortgage Strategy

[Eirikur]

Lloyds have been fined 218 million for rigging the LIBOR rate which is a 72 million saving on what Barclays got.


"None of the suspended employees have been named, but the report says up to 22 people are involved in the manipulation. Six had already been suspended by the bank before the fine was issued, while the rest have already left".


Lloyds suspends 7 employees in wake of Libor rigging scandal | News | Mortgage Strategy

Phew employees, so none of us contractors involved/caught

[Zero Liability]

The government doesn't like competition in fraud. Central banks can continue unabated in keeping cheap the debt to which our 'democratically elected representatives' bind us by exercising demand for it via credit expansion and through countless other manipulations but I'm supposed to take all the supposed indignation and huffing and chest thumping over nominally private banks doing the same on a smaller scale. Right. I guess they need to act tough sometimes on recalcitrant banks, to remind them who's boss in keeping the counterfeiting cartel running.