By Ian Fraser Published: Sunday Herald Date: February 10th, 2013 It has been described as the biggest banking felony in history … yet no-one has been prosecuted for the Libor fixing scandal. Ian Fraser looks at the RBS sacrificial lambs. [An edited version of this article was published on pages 34-35 the Sunday Herald on […]
February 10th, 2013 In September 2007, a year before Ireland’s banks went belly up, Jonathan Sugarman, a risk manager at Unicredit Bank Ireland, alerted his bosses and regulators at the Central Bank of Ireland to the fact that Unicredit was in massive breach of liquidity requirements. The law was clear: liquidity cover was allowed to fall […]
February 6th, 2013 If this is the best he can do, Royal Bank of Scotland chief executive Stephen Hester should consider throwing in the towel and conceding what most people already know — that RBS, as it stands, is unmanageable and running an unsustainable business model. Hester (who remains in denial about the egregious wrongdoing […]
February 6th, 2013 Kevin Mason, a commenter on the Guardian website, had this to say about the £390 million settlement that Royal Bank of Scotland reached with the Commodities Futures Trading Commission, US Department of Justice and Financial Services Authority over rampant Libor-rigging today [Mason’s words sourced from Graeme Wearden’s excellent Libor rigging live blog published […]