I’m a bit late posting the big story about the LIBOR scandal, but better late than never. This first post from Mike Philbin’s Free Planet blog (from the UK) caught my eye on the 28th, right before everything hit big time in the mainstream news. I thought it appropriate to start with this before moving on to the bigger explanations of what is happening. –Dennis
CCC – remember that acronmy because, according to the Corporate Crime Reporter website, “Barclays signed a NON PROSECUTION AGREEMENT with the Justice Department” and this’ll be why Barclays will not be charged for fraud in the LIBOR case.
Wonder if more CCCs or Criminal Corporate Cabals are en masse doing these responsibility-dodging NON PROSECUTION deals with Government Departments around the off-shored world?
I guess I’m trying to say, “Justice has failed You The People.”
DAY LATER UPDATE: Bank of England governor Sir Mervyn King says that he WELCOMES a Central European Bank to sort this out(!) and that the UK banks under investigation for derivatives product fraud do not need a “Leveson style” inquiry.
Yeah, we don’t want INDEPENDENT INVESTIGATION of where our money’s going, on top of all the immense profit these financial houses make on the so-called Free Market, already.
“Watch it, lads, we’ve been rumbled,” unquote-ish.