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Lloyds Banking Group to pay $370 million Libor rate rigging fines
07-28-2014, 03:55 PM #1
NODOOM Truthtard
Posts:4,874 Threads:522 Joined:Sep 2012
This is the bank I bank with!


(Reuters) - Britain's Lloyds Banking Group (LLOY.L) has agreed to pay fines totaling $370 million to U.S. and British authorities investigating its part in a global interest rate rigging scandal.


Life is like a penny, you can spend it on what you like, but you can ONLY spend it once.


07-28-2014, 04:19 PM #2
Octo Mother Superior
Posts:41,455 Threads:1,558 Joined:Feb 2011
Anonymous Kritter Show this Post
07-28-2014, 04:22 PM #3
Anonymous Kritter Incognito Anonymous
If that was in the US they would be rewarded for their criminality.
07-28-2014, 04:48 PM #4
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,512 Threads:1,483 Joined:Feb 2011
You know, this was a big deal, and so damn complex, few people could get their head around what was going on.
This explains it pretty well... http://www.bbc.co.uk/news/business-19199683

Not Gumby Show this Post
07-28-2014, 10:43 PM #5
Not Gumby Incognito Anonymous
Heres the amazing part.

When banks screw the public it takes years to catch them and that money has made more money.

Then the Government fines them, and the Government Keeps the fine.

The consumer gets nothing.

Everyone profits except the consumer.
07-28-2014, 11:20 PM #6
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,512 Threads:1,483 Joined:Feb 2011
yup.gif And we pay them interest, and bail them out just for being such a swell bunch.

07-28-2014, 11:52 PM #7
Below Average Genius Member
Posts:2,998 Threads:303 Joined:Apr 2013
Did the fine cover the illegal gain? Or was the fine a mere percentage of the profits made?

The fine appears to cover one conversation on one day. How many times did the banks do the same thing but not get charged?

Let's make 5G safe by installing zirconium ceramic bricks to the cell masts. It will save the providers billions of dollars quickly by reducing interference.

Can you ask yourself "Why do I love discovering how my protons can experience Loving Kindness?"



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