UBS pays $1.5 billions and dodges criminal prosecution

Well, now we've found the Higgs Bosun, we'll have to increase the difficulty ....

 Find an honest banker... 

Ouh là là... 

After confessing to committing wire-fraud and to the manipulation of key inter-bank lending rates in Europe and Asia, today, it has been announced that the Swiss bank, UBS, has avoided criminal prosecution by agreeing to pay: 

• $1.2 billions  (£740m) in combined fines to the US Department of Justice (DoJ) and the Commodities Futures Trading Commission
• £160m to the UK's Financial Services Authority (FSA)
• 59m Swiss francs (£40m) to the Swiss Financial Market Supervisory Authority

http://www.huffingtonpost.co.uk/2012/12/19/ubs-libor-scandal-940m_n_2327433.html

http://www.bbc.co.uk/news/business-20767984
http://www.bbc.co.uk/news/business-20779949

All this makes me wonder: Exactly what crimes do banksters have to commit, before they are held fully to account?

David Brear (copyright 2012)

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