In response to:

TARP Banks Caught Falsifying Interest Rates in LIBOR Rate-Setting Scandal

Lars795 Wrote: Jul 19, 2012 2:41 PM
Slaps on the wrist have got to stop. If a bank CEO knew this was going on, then you take from them 75% of what they are worth TOTAL!!!! And on down the line as far as those in control.

One of the few issues which both the political left and the right agree upon is rooting out financial corruption by the banking industry. The latest banking scandal involves big banks submitting falsified data in order to keep their borrowing rates low. As many as 16 banks worldwide have been submitting false information to LIBOR, the London interbank offer rate. LIBOR is considered one of the most crucial interest rates in finance. It is the average interest rate the world's largest banks pay when they borrow money from each other, and affects the rate of interest borrowers pay on...