Thursday, January 10, 2013
Water off a duck’s back, isn’t it?
"The Royal Bank of Scotland is in negotiations with UK and US regulators over fines to be paid for its Libor transgressions". "Last month, UBS paid Â£940m in fines for attempted Libor rate manipulations". "It is understood that the FSA is arguing that some bonuses earned by executives and investment bankers should be repaid or clawed back" (fat chance of any personal responsibility being taken).