07 February 2013

Naughty boys

It could have been worse:
Royal Bank of Scotland was handed a £390m fine on Wednesday for "widespread misconduct" in rigging the Libor rate until as recently as November 2010, two years after it was bailed out by the taxpayer and even after regulators had begun to investigate the key benchmark rate.
After all, UBS had to cough up £940 million.

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