Trader jailed for 14 years over Libor rate-rigging - BBC News
Thanks - I’d been wondering how that would end.
(I can’t help thinking it seems disproportionate, when you look at the sentences recidivistic criminals get for manslaughter, armed robbery, and so on … but that’s “just my perspective”.)
The prospect of being able to rig something & potentially make MASSIVE profits must create a constant internal battle between right & wrong. The temptation would be unbearable!
Imagine having NFP figures the night before they’re released…I can almost see that stack of money…& taste the prison slop.
Agreed, Lexy, it seems disproportionate…
Baz, oh yes , one would be tempted, indeed!
As the general consensus still seems to view white collar crime as more acceptable shouldn’t the armed robbers put down their guns and start embezzling instead? Society will still like you, even feel sorry for you :32:
He deserves every minute of his sentence, it has to be a big deterrent for others.
Regarding armed robbery, they go out prepared to take life to get their loot so shouldn’t ever see the light of day again.
I agree with you eddie.
People with no access to money steal it one way, people with access to money steal it a different way… the common factor is?
Unstable people kill people one way, unstable governments or agencies kill people a different way… the common factor is?
You’re hoping aren’t you? 
He/they just happen to have been unlucky to get caught. There are many many more who don’t & never will. It’s a cancer within this business & cases like that is barely scratching the surface.
Been going on for donkey’s years in various forms & is still going on this week.
That punishment is no deterrent whatsoever.
Lawyers experienced in such cases seem to agree, according to what’s in today’s newspapers: they were generally expecting a sentence of 8-9 years to be the furthest this judge would go in trying to “send a message”.
I strongly suspect this is right, though the reasons for long sentences [I]not[/I] actually deterring others, in such cases, are themselves very complicated.
I agree with you, Thalia…
Look at the recent case of the ‘US Flash Crash’ (2010) where a single trader from Hounslow, who trades
from home, got blamed… as if he, alone, could have caused that… Everyone laughed at the
way in which they went after this one man, while the big corporations went unpunished…
That is why this is an interesting case, because on the one hand it is different from that of
Navinder Singh Sarao, but on the other, it seeks to scapegoat someone for the ills of an entire system…