When I was in England a couple of months back I read that Barclay’s was setting aside money for future fines. The regulators must be asleep at the wheel if they can’t read or understand these telegraphed signals; clearly as long as the fine is covered in the crime then continue to plunder with impunity.
“Barclays has put aside another £800m, largely to cover potential further legal action and penalties for alleged foreign exchange manipulation.”
It’s obvious to me that fines are not the answer only once the authorities show some orchestra stalls and jail these culprits it will be criminal business as usual!
