We didn't let the foxes in the hen house, the hens asked and got more freedom to manage the coop. They invited hens and animals from other farms over used them to run an abbatoir. Our imagination can't believe it, so we talk of foxes.
I agree with most of your points, except that the umbrage directed at the Fin industry is too personal or heated.
I think most people who are intelligent, can't fathom the level of the atrocity being committed here.
For Libor, they are being accused of flat out fraud. Fraud so utterly blatant that it was normal for the industry.
And Barclays is one of the 'good banks' - its getting off of on good behavior.
This is just rapacious greed, fraud, and abuse at a scale that the word definitions come across as weak.
We didn't let the foxes in the hen house, the hens asked and got more freedom to manage the coop. They invited hens and animals from other farms over used them to run an abbatoir. Our imagination can't believe it, so we talk of foxes.
I agree with most of your points, except that the umbrage directed at the Fin industry is too personal or heated.
I think most people who are intelligent, can't fathom the level of the atrocity being committed here.
For Libor, they are being accused of flat out fraud. Fraud so utterly blatant that it was normal for the industry.
And Barclays is one of the 'good banks' - its getting off of on good behavior.
This is just rapacious greed, fraud, and abuse at a scale that the word definitions come across as weak.
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Link for interest
Morgan Stanley's stab at what the fines might look like/via FT alphaville - http://ftalphaville.ft.com/blog/2012/07/12/1081181/some-more...