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

[London424]

Soov535 said:

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

Clearly the jury was rigged with bankers!

[anonymous-user]

Soov535 said:

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

Jury clears 6th and final broker.
http://www.bbc.co.uk/news/business-35428279

[turbobloke]

djstevec said:

Soov535 said:

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).

[/footnote]

Jury clears 6th and final broker.
http://www.bbc.co.uk/news/business-35428279

Bit of a sweat for the last one but OK in the end. Innocent until proven innocent then the envyists will be back on the case.

[Smollet]

I used to work with one of the accused and I was very surprised when he was accused. I'm just glad that they've been acquitted as from the start it was pretty obvious to those in the know they were just scapegoats.

[deadslow]

Smollet said:

I used to work with one of the accused and I was very surprised when he was accused. I'm just glad that they've been acquitted as from the start it was pretty obvious to those in the know they were just scapegoats.

Whom ought the authorities to have accused? Genuine question, as the banks ponied up nine thousand million in fines, so some major wrongdoing must have gone on, I'm guessing.

[Smollet]

deadslow said:

Whom ought the authorities to have accused? Genuine question, as the banks ponied up nine thousand million in fines, so some major wrongdoing must have gone on, I'm guessing.

They didn't work for banks. Next question

[deadslow]

Smollet said:

deadslow said:

Whom ought the authorities to have accused? Genuine question, as the banks ponied up nine thousand million in fines, so some major wrongdoing must have gone on, I'm guessing.

They didn't work for banks. Next question

Never said they did.

Same question.

[Smollet]

deadslow said:

Smollet said:

deadslow said:

Whom ought the authorities to have accused? Genuine question, as the banks ponied up nine thousand million in fines, so some major wrongdoing must have gone on, I'm guessing.

They didn't work for banks. Next question

Never said they did.

Same question.

It was your inference that they did hence my response. I'd start with the FSA for not doing their job in the first place of regulating the banks but that will never happen.

[deadslow]

Smollet said:

deadslow said:

Smollet said:

deadslow said:

Whom ought the authorities to have accused? Genuine question, as the banks ponied up nine thousand million in fines, so some major wrongdoing must have gone on, I'm guessing.

They didn't work for banks. Next question

Never said they did.

Same question.

It was your inference that they did hence my response. I'd start with the FSA for not doing their job in the first place of regulating the banks but that will never happen.

Appreciate what you are saying, but you can't blame the police for crime, really.

[turbobloke]

deadslow said:

Smollet said:

deadslow said:

Smollet said:

deadslow said:

Whom ought the authorities to have accused? Genuine question, as the banks ponied up nine thousand million in fines, so some major wrongdoing must have gone on, I'm guessing.

They didn't work for banks. Next question

Never said they did.

Same question.

It was your inference that they did hence my response. I'd start with the FSA for not doing their job in the first place of regulating the banks but that will never happen.

Appreciate what you are saying, but you can't blame the police for crime, really.

In the sense that - for this example - the police also set some of the laws, it's not a valid analogy.

Also real police have discretion even though they don't legislate.

This had all the appearance of low hanging fruit, plucked a bit on the hard side to shake the trees in case anything fell out from higher up.

[deadslow]

turbobloke said:

deadslow said:

Smollet said:

deadslow said:

Smollet said:

deadslow said:

Whom ought the authorities to have accused? Genuine question, as the banks ponied up nine thousand million in fines, so some major wrongdoing must have gone on, I'm guessing.

They didn't work for banks. Next question

Never said they did.

Same question.

It was your inference that they did hence my response. I'd start with the FSA for not doing their job in the first place of regulating the banks but that will never happen.

Appreciate what you are saying, but you can't blame the police for crime, really.

In the sense that - for this example - the police also set some of the laws, it's not a valid analogy.

Also real police have discretion even though they don't legislate.

Well, I suppose that means we need to add a couple of questions to the next census as previously suggested: 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, can have their passports removed and placed in a boat in the Mediterranean.

It must be great to live in a world where there is no wrong-doing, or if wrong-doing is suggested, it is always someone else's fault, and ,of course, 'time to move on'

[Smollet]

turbobloke said:

In the sense that - for this example - the police also set some of the laws, it's not a valid analogy.

Also real police have discretion even though they don't legislate.

This had all the appearance of low hanging fruit, plucked a bit on the hard side to shake the trees in case anything fell out from higher up.

The police do not set laws. They enforce them.

[turbobloke]

Smollet said:

turbobloke said:

In the sense that - for this example - the police also set some of the laws, it's not a valid analogy.

Also real police have discretion even though they don't legislate.

This had all the appearance of low hanging fruit, plucked a bit on the hard side to shake the trees in case anything fell out from higher up.

The police do not set laws. They enforce them.

That's what I was saying. It's why in this context the analogy doesn't work. Have another read.

[turbobloke]

deadslow said:

turbobloke said:

deadslow said:

Smollet said:

deadslow said:

Smollet said:

deadslow said:

Whom ought the authorities to have accused? Genuine question, as the banks ponied up nine thousand million in fines, so some major wrongdoing must have gone on, I'm guessing.

They didn't work for banks. Next question

Never said they did.

Same question.

It was your inference that they did hence my response. I'd start with the FSA for not doing their job in the first place of regulating the banks but that will never happen.

Appreciate what you are saying, but you can't blame the police for crime, really.

In the sense that - for this example - the police also set some of the laws, it's not a valid analogy.

Also real police have discretion even though they don't legislate.

Well, I suppose that means we need to add a couple of questions to the next census as previously suggested: 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, can have their passports removed and placed in a boat in the Mediterranean.

It must be great to live in a world where there is no wrong-doing, or if wrong-doing is suggested, it is always someone else's fault, and ,of course, 'time to move on'

Where on earth did that come from - were you expecting innocent people to be found guilty for some reason other than established guilt? The people on trial were innocent before the trial and they're innocent now after it. If it was somebody else's fault, then the authorities need to find them and take action. As far as the acquitted people are concerned, it is indeed time to move on.

[Smollet]

turbobloke said:

Where on earth did that come from - were you expecting innocent people to be found guilty for some reason other than established guilt? The people on trial were innocent before the trial and they're innocent now after it. If it was somebody else's fault, then the authorities need to find them and take action. As far as the acquitted people are concerned, it is indeed time to move on.

They have lost their jobs and have incurred costs defending themselves. That's going to be a lot of moving on.

[turbobloke]

Smollet said:

turbobloke said:

Where on earth did that come from - were you expecting innocent people to be found guilty for some reason other than established guilt? The people on trial were innocent before the trial and they're innocent now after it. If it was somebody else's fault, then the authorities need to find them and take action. As far as the acquitted people are concerned, it is indeed time to move on.

They have lost their jobs and have incurred costs defending themselves. That's going to be a lot of moving on.

Moving on is...moving on. Amazing! Different sht happens all the time creating a need to move on from it.