LIBOR 'arrests imminent' - no doubt just a few traders...

[crankedup]

14 years handed down to a fraudster,cheat and liar who just happened to work in an investment bank. Well who would have thought it

NEXT!

[fido]

deadslow said:

I don't think the guy got 14 years for being careless about how he filled in a spreadsheet. Who's being naive now?

Please point out in my paragraph where I said he was being 'careless'? {waits for stupid one line response }

[crankedup]

johnfm said:

Eric Mc said:

Will he have to pay back any of the commissions he earned?

Is this an additional scapegoat tax for the pleasure of the baying mob?

You seem to have difficulty defining criminality within Society! Whilst criminals of other unlawful activities do have their ill-gotten gains confiscated do you believe that should not apply to criminals within professions? If so, why?

[turbobloke]

crankedup said:

johnfm said:

Eric Mc said:

Will he have to pay back any of the commissions he earned?

Is this an additional scapegoat tax for the pleasure of the baying mob?

You seem to have difficulty defining criminality within Society! Whilst criminals of other unlawful activities do have their ill-gotten gains confiscated do you believe that should not apply to criminals within professions? If so, why?

The professions, it's a good point and one we could expand on to cover GPs, still working, who have in the past continuously signed off people as unfit for work when they'reperfetly capable of working, a form of fraud against the taxpayer. The work involved may not be as a lumberjack but something more suitable as appropriate. However we may as well stick to the Libor issue for now.

[otolith]

TheExcession said:

Am I wrong in thinking LIBOR is just a bunch of people gambling with other people's money?

Like putting up odds for a race, and this guy just got caught doping the greyhound/horse?

It's historically been used as the real world zero risk interest rate - it's the rate at which a (theoretically) impeccably safe borrower can borrow money. It's used to index the interest rate on riskier lending by adding a margin onto it - so the agreement is effectively "you pay the current zero risk cost of lending plus 2%". The problem comes when one of the parties to that transaction is able to influence what that rate is. As an institution which is paying or earning interest on bonds which are indexed on it, you can benefit by fiddling the value.

[roachcoach]

turbobloke said:

crankedup said:

johnfm said:

Eric Mc said:

Will he have to pay back any of the commissions he earned?

Is this an additional scapegoat tax for the pleasure of the baying mob?

You seem to have difficulty defining criminality within Society! Whilst criminals of other unlawful activities do have their ill-gotten gains confiscated do you believe that should not apply to criminals within professions? If so, why?

The professions, it's a good point and one we could expand on to cover GPs, still working, who have in the past continuously signed off people as unfit for work when they'reperfetly capable of working, a form of fraud against the taxpayer. The work involved may not be as a lumberjack but something more suitable as appropriate. However we may as well stick to the Libor issue for now.

A more fitting one (not to say yours is wrong) are the dodgy whiplash claims which are full blown fraud/accessory.

[otolith]

el stovey said:

If this kind of behaviour is going on why not try and employ people who are more risk adverse and have more empathy.

Because those types of people aren't attracted to those kinds of jobs, and aren't very good at them?

[johnfm]

crankedup said:

johnfm said:

Eric Mc said:

Will he have to pay back any of the commissions he earned?

Is this an additional scapegoat tax for the pleasure of the baying mob?

You seem to have difficulty defining criminality within Society! Whilst criminals of other unlawful activities do have their ill-gotten gains confiscated do you believe that should not apply to criminals within professions? If so, why?

I have no issue defining criminality. You seem to have an issue wiwth the nuances that must be observed before you start incarcerating people or taking away their money/possessions.

[deadslow]

johnfm said:

Eric Mc said:

Will he have to pay back any of the commissions he earned?

Is this an additional scapegoat tax for the pleasure of the baying mob?

Its a bloody shame this poor chap is being scapegoated. If they would stick all of the city-crooks in jail and throw away the key, then this poor professional person would not have to endure the scapegoat tag. While they're at it, they could sack all the other mealy mouthed city tossers who claim they can't tell right from wrong.

[crankedup]

turbobloke said:

crankedup said:

johnfm said:

Eric Mc said:

Will he have to pay back any of the commissions he earned?

Is this an additional scapegoat tax for the pleasure of the baying mob?

You seem to have difficulty defining criminality within Society! Whilst criminals of other unlawful activities do have their ill-gotten gains confiscated do you believe that should not apply to criminals within professions? If so, why?

The professions, it's a good point and one we could expand on to cover GPs, still working, who have in the past continuously signed off people as unfit for work when they'reperfetly capable of working, a form of fraud against the taxpayer. The work involved may not be as a lumberjack but something more suitable as appropriate. However we may as well stick to the Libor issue for now.

I enjoy a little verbal jousting but really your comparison of the issue with G.Ps signing off the sick! As you suggest, lets stick with Libor and the damage caused by the likes of this low life who has quite rightly been handed down a 14 year prison sentence.

[crankedup]

johnfm said:

crankedup said:

johnfm said:

Eric Mc said:

Will he have to pay back any of the commissions he earned?

Is this an additional scapegoat tax for the pleasure of the baying mob?

You seem to have difficulty defining criminality within Society! Whilst criminals of other unlawful activities do have their ill-gotten gains confiscated do you believe that should not apply to criminals within professions? If so, why?

I have no issue defining criminality. You seem to have an issue wiwth the nuances that must be observed before you start incarcerating people or taking away their money/possessions.

No not at all, I'm with the Courts all the way and dearly hope this thief will lose even more financially than he already no doubt has - justice at last.
By 'nuances' you perhaps mean the difference between being caught with the hands in somebody's till or not. All seems clear cut and quite simple to me. When is a convicted thief not a thief?

[Soov535]

crankedup said:

turbobloke said:

crankedup said:

johnfm said:

Eric Mc said:

Will he have to pay back any of the commissions he earned?

Is this an additional scapegoat tax for the pleasure of the baying mob?

You seem to have difficulty defining criminality within Society! Whilst criminals of other unlawful activities do have their ill-gotten gains confiscated do you believe that should not apply to criminals within professions? If so, why?

The professions, it's a good point and one we could expand on to cover GPs, still working, who have in the past continuously signed off people as unfit for work when they'reperfetly capable of working, a form of fraud against the taxpayer. The work involved may not be as a lumberjack but something more suitable as appropriate. However we may as well stick to the Libor issue for now.

I enjoy a little verbal jousting but really your comparison of the issue with G.Ps signing off the sick! As you suggest, lets stick with Libor and the damage caused by the likes of this low life who has quite rightly been handed down a 14 year prison sentence.

He's been thrown under a bus Cranky, to flush out the people higher up who will now sing like canaries.

Let me tell you there are lots of cornholes twitching like a rabbit's nose at the moment.

[johnfm]

deadslow said:

johnfm said:

Eric Mc said:

Will he have to pay back any of the commissions he earned?

Is this an additional scapegoat tax for the pleasure of the baying mob?

Its a bloody shame this poor chap is being scapegoated. If they would stick all of the city-crooks in jail and throw away the key, then this poor professional person would not have to endure the scapegoat tag. While they're at it, they could sack all the other mealy mouthed city tossers who claim they can't tell right from wrong.

And all the non-city crooks, like MPS, coppers, workers up and down the land who break the law. But they don't. They prosecute either for political necessity or the easy ones where the accused lack the means to mount a defence.

Note: this guy broke the law. No doubt. His punishment in addition to prison will be not being able to work in a regulated profession again. That is probably enough.

[turbobloke]

crankedup said:

turbobloke said:

crankedup said:

johnfm said:

Eric Mc said:

Will he have to pay back any of the commissions he earned?

Is this an additional scapegoat tax for the pleasure of the baying mob?

You seem to have difficulty defining criminality within Society! Whilst criminals of other unlawful activities do have their ill-gotten gains confiscated do you believe that should not apply to criminals within professions? If so, why?

The professions, it's a good point and one we could expand on to cover GPs, still working, who have in the past continuously signed off people as unfit for work when they'reperfetly capable of working, a form of fraud against the taxpayer. The work involved may not be as a lumberjack but something more suitable as appropriate. However we may as well stick to the Libor issue for now.

I enjoy a little verbal jousting but really your comparison of the issue with G.Ps signing off the sick! As you suggest, lets stick with Libor and the damage caused by the likes of this low life who has quite rightly been handed down a 14 year prison sentence.

Why not? With sicknotes and whiplash the potential for GP fraud against the public purse is a major scandal both in financial terms and as a scandalous issue deriving from professions. Was there any substantive reason you didn't think the comparison should be made, there didn't appear to be anything like that in your mix of faux outrage and public sector protection knee jerk denialism. We can revisit at some point post-Libor ring puckering sentencing. Then you can get even more enjoyment.

[deadslow]

johnfm said:

deadslow said:

johnfm said:

Eric Mc said:

Will he have to pay back any of the commissions he earned?

Is this an additional scapegoat tax for the pleasure of the baying mob?

Its a bloody shame this poor chap is being scapegoated. If they would stick all of the city-crooks in jail and throw away the key, then this poor professional person would not have to endure the scapegoat tag. While they're at it, they could sack all the other mealy mouthed city tossers who claim they can't tell right from wrong.

And all the non-city crooks, like MPS, coppers, workers up and down the land who break the law. But they don't. They prosecute either for political necessity or the easy ones where the accused lack the means to mount a defence.

Note: this guy broke the law. No doubt. His punishment in addition to prison will be not being able to work in a regulated profession again. That is probably enough.

Yes, good idea. On the next census add a couple of questions. Anyone who states they cannot tell right from wrong (or indeed that no-one could be expected to tell it), or who states they cannot safely carry out any task without plod or a regulator standing over them, or who states their occupation as trough-snouter, can have their passports removed and placed in a boat in the Mediterranean.

[Ali G]

turbobloke said:

Why not? With sicknotes and whiplash the potential for GP fraud against the public purse is a major scandal both in financial terms and as a scandalous issue deriving from professions. Was there any substantive reason you didn't think the comparison should be made, there didn't appear to be anything like that in your mix of faux outrage and public sector protection knee jerk denialism. We can revisit at some point post-Libor ring puckering sentencing. Then you can get even more enjoyment.

ENRON.

arfur somefink.

[Ali G]

Soov535 said:

He's been thrown under a bus Cranky, to flush out the people higher up who will now sing like canaries.

Let me tell you there are lots of cornholes twitching like a rabbit's nose at the moment.

Errr - perhaps the canary has now been squished by a bus...

'Cheap, cheap' very cheap.

[anonymous-user]

UK jury acquits five out of six brokers in UK's second Libor trial.

http://uk.reuters.com/article/uk-trial-libor-broke...

[Saddle bum]

djstevec said:

UK jury acquits five out of six brokers in UK's second Libor trial.

http://uk.reuters.com/article/uk-trial-libor-broke...

Great news.

[Soov535]

djstevec said:

UK jury acquits five out of six brokers in UK's second Libor trial.

http://uk.reuters.com/article/uk-trial-libor-broke...

I'm surprised by this - but it just goes to show the value of the jury system.

crankedup and his mates will be along screaming about "conspiracy" but there simply wasn't the evidence to convict (I worked for one of ICAP's competitors for several years).

Edited by Soov535 on Thursday 28th January 09:59