You might have missed the latest bank scandal, the one involving Barclays Plc (BARC), in the hubbub of last week’s U.S. health-care ruling and euro salvage plan.
If so, allow us to fill you in: On June 27, Barclays, the U.K.’s second-largest bank by assets, admitted it deliberately reported artificial borrowing costs from 2005 to 2009. The false reports were used to set a benchmark rate, the London interbank offered rate, or Libor, which affects the value of trillions of dollars of derivatives contracts, mortgages and consumer loans. The bank agreed to pay a hefty $455 million to settle charges with U.S. and U.K. regulators, and on Monday its chairman resigned.
https://www.bloomberg.com/news/2012-07-02/barclays-case-shows-something-s-rotten-in-banking-culture.html?cmpid=hpbv
About Us
Matt Weidner and the lawyers of Weidner Law practice exclusively in the state and federal courts located within Florida. Any information provided on this website is for general, consumer education alone and no attorney client relationship of any kind is established between any consumer and the law firm unless a formal retainer agreement is executed between the law firm and client.
Contact Info
Weidner Law
250 Mirror Lake Dr. N St.Petersburg, Florida 33701
727-231-8008
Related Links
Working Hours
Monday8:00 am - 6:00 pm
Tuesday8:00 am - 6:00 pm
Wednesday8:00 am - 6:00 pm
Thursday8:00 am - 6:00 pm
Friday8:00 am - 6:00 pm
Saturday9:00 am - 3:00 pm
© 2023 WeidnerLaw. Design by OPM
Funny that if a guy went to 7/ll stole 2 six packs of Bud he would be arrested and
end up in Jail….but if a wealthy trader manipulates the market and ” steals” money
his firm gets a tax deductable fine and they go to the country club.
Law and order is defined as ” law for the rich and order for poor”.
Do we really need to outsource our constitutional liberties? Is there no end to what is “for sale’ in our country? Courts should not be revenue centers…owned by the rich and powerful. Pretty sobering stuff on this our “Independence Day”.
https://www.nytimes.com/2012/07/03/us/probation-fees-multiply-as-companies-profit.html?_r=1&pagewanted=all
Thanks for every other great article. The place else could anyone get that type of info in such a perfect way of writing? I’ve a presentation subsequent week, and I am at the search for such information.