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2012 July

Drains up

July 13th, 2012

The financial crisis had many perpetrators but now this is about to change. In future there will be one that gets blamed. Since 2007 we have been trying to find out, with little success, who is guilty for the mess we are in. Is it bankers, regulators or politicians? The story was complex and complexity […]

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Banking Culture

July 13th, 2012

Barclays £59.5m fine rests on two aspects of Libor “fixing”: Profit. As Trader B explains: “I really need a very very low 3m fixing on Monday – preferably we get kicked out. We have about 80 yards [billion] fixing for the desk and each 0.1 [one basis point] lower in the fix is a huge […]

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