Global Banking: Will the Scandals Never End?

Alicia Micklethwait and Patricia Dimond

Chapter 4 in Driven to the Brink, 2017, pp 67-94 from Palgrave Macmillan

Abstract: Abstract ‘Probity and honesty are essential, as is trust which is based upon it. The LIBOR activities, in which you played a leading part, put all that in jeopardy.’ Tom Hayes held his head in his hands as he listened to Mr Justice Cooke’s remarks, stunned by the 14-year jail sentence he had just received for conspiracy to defraud. Hayes was just the first of a series of bankers to be tried for LIBOR and Euribor (Euro Interbank Offered Rate) manipulation following the collective penance of the banks that were fined more than $9 billion for their part in the scandal.

Keywords: Money Market; Final Notice; Banking Crisis; Financial Service Authority; Compliance Department (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-59053-4_4

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DOI: 10.1057/978-1-137-59053-4_4

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