L00b Posted November 13, 2014 Share Posted November 13, 2014 Why has no one been prosecuted for this act of fraud?Was anyone prosecuted for the Libor one? 'You wot?', I hear the public clamouring. Exactly Link to comment Share on other sites More sharing options...
Bonzo77 Posted November 13, 2014 Share Posted November 13, 2014 Was anyone prosecuted for the Libor one? 'You wot?', I hear the public clamouring. Exactly They should be held accountable, just like anyone else committing fraud would be. Link to comment Share on other sites More sharing options...
L00b Posted November 13, 2014 Share Posted November 13, 2014 (edited) They should be held accountable, just like anyone else committing fraud would be.I agree that they should. I predict that they won't. Again. EDIT - as somebody commented on the FT article, all this fine has done, is set the going rate for getting caught pulling this particular Forex trick. Like the Libor-related fines set the going rate for getting caught pulling the Libor trick (and which Libor scandal did not stop the traders from continuing to pull the Forex trick btw - look at the comparative timelines). In either case, just locate same at a relevant line of the P&L account, and factor into overheads for future costs of doing business. Or perhaps it's my overdeveloped sense of cynicism acting up...admittedly, it's been stress-tested quite extensively since 2008 Edited November 13, 2014 by L00b Link to comment Share on other sites More sharing options...
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