12 Apr 2017

ABarclays exec breaks silence over LIBOR-rigging

Anyone who has worked in a front-line trading/sales position will know that nothing is more tedious than giving out regular valuations to customers, esp if the relevant security trades infrequently. Apart from the tedium it is not clear why a trader should not give a LIBOR quote that reflects his position. He/She is no god, or impartial regulator, any quote reflects a view. A lot noise about nothing! Just to keep the jobsworth in government, media in clover!
A Barclays exec who went to prison for LIBOR-rigging breaks his silence: 'Traders have been served up as fall guys to protect these more powerful senior bankers'

No comments: