Over the last few weeks it’s been ‘fine’ weather for banks: Barclays were fined $450m relating to LIBOR fixing HSBC set aside $700m to cover potential fines resulting from lapses relating to money laundering Standard Chartered have agreed to pay New York authorities $340m to settle issues relating to breaking of international sanctions on Iran …
The LIBOR scandal will roll and roll for years, as regulators investigate and – if you believe the press – pretty much the entire world litigates against banks (doubtless Claims Management Companies have their very best people poring over templates for complaints letters as I write). The core issues of the scandal seem to fall …
