Everybody's doing it, doing it..Yep, breaking the law, admitting it and paying a hefty fine " to save their skin"! The latest financial casualty is the Royal Bank of Scotland who agreed to the settlement resulting from their role in an interest rate manipulation scheme . Their Japanese subsidiary was actually "thrown under the bus " and pled guilty to criminal wrongdoing .
At the end of the day, will it deter future "lawbreaking " by big banks ? Of course not. Just a drop in the bucket for them. Costs, ultimately passed on to customers, somehow, some way.
Hey, the beat goes on!
Wall Street Reporter Steve Goldman signing off.
No comments:
Post a Comment