Moral Corruption

The European Commission has fined eight banks (including RBS) a total of £1.4 billion to the European Commission for forming illegal cartels to rig Libor and Euribor interest rates.

 

Are we really surprised by such illegality in the Bank Sector? No.

 

Do we expect further issues to come out of the woodwork in the future? Yes.

 

But here are the two key words in all of this mess…… ‘including’ and ‘RBS’.

 

We own RBS as tax payers. The fines are in addition to the previous £391 million RBS paid for other Libor ‘indiscretions’.  

 

We also owned RBS when the illegal rigging was taking place.

 

Is it just me or has this all been brushed under the carpet with the rest of the Banking Sector scandal? Well it shouldn’t. No other Government department / company would get away with this without a public inquiry and those responsible hung out to dry.

 

Why make allowances for something that is illegal and morally corrupt?

 

I just don’t get it.