Exclusive: UBS Chairman proposes industry-wide settlement over Libor

Comments (4)
tcarrt2 wrote:

much simpler solution.

since it’s far too difficult for the criminals to “unravel” the extend of their fraud, just have UBS refund to each and every “debtor” 100% of all interest amounts paid on any kind of financial instrument dependent on the LIBOR rate.

no, they’re not too big to fail. they’re too big to stay in business.

Jan 25, 2013 4:59pm EST  --  Report as abuse
tcarrt2 wrote:

much simpler solution.

since it’s far too difficult for the criminals to “unravel” the extend of their fraud, just have UBS refund to each and every “debtor” 100% of all interest amounts paid on any kind of financial instrument dependent on the LIBOR rate.

no, they’re not too big to fail. they’re too big to stay in business.

Jan 25, 2013 5:00pm EST  --  Report as abuse
Overcast451 wrote:

It seems like everyday – the word ‘banker’ gets a bit more synonymous with ‘fraudster’.

Jan 25, 2013 6:51pm EST  --  Report as abuse
LloydBgs wrote:

That it would even occur to a ring of potential criminal defendants that they could organize an industry-wide settlement is a strong indication of just how pathetic law enforcement has been against politically influential banks. Lanny Breuer and his Obama Administration bosses have succeeded in making plausible to the entire world what only a minority had previously believed: that America doesn’t come close even to trying to uphold the ideal of equal justice under law. All the powerful need to do, when we all discover they’ve rigged the system, is write a check. And that’s what this meeting in Davos was about: Let’s just get on with writing a big check.

Jan 26, 2013 10:43am EST  --  Report as abuse
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