
Libor trial - hamdal
http://www.bbc.co.uk/news/business-32879690
======
steego
I'm so glad they're finally putting a whipping boy on trial.

Now, I know some of you are a little skeptical about the efficacy of punishing
whipping boys, but let me explain. We can't possibly whip banking executives
when they do something wrong because we live in a civilized society that
respects the "divine right of banking executives". Instead, we assign each
executive a whipping boy and the executive then develops a strong emotional
bond to the whipping boy. When the executive does something wrong, he will be
forced to watch his close companion, the whipping boy, suffer for his crimes.

This will act as an effective deterrent for any future wrong doing for the
executive and send a strong message to other executives their crimes might
jeopardize the well-being of their own whipping boys. Some may call me
optimistic, but I think this single act of justice will have the desired
effect of transforming our banking system. If bank executives know they're
putting their whipping boys in real jeopardy, I think that will force their
hand to rethink their organization's incentive systems and institute checks
and balances into their organization to reward honesty, transparency and
compassion.

[http://en.wikipedia.org/wiki/Whipping_boy](http://en.wikipedia.org/wiki/Whipping_boy)

~~~
haukur
Bankers are being tried, see, for instance:
[http://uk.reuters.com/article/2015/02/13/uk-iceland-
bankers-...](http://uk.reuters.com/article/2015/02/13/uk-iceland-bankers-
idUKKBN0LH0OC20150213)

~~~
steego
I can't tell if you're being funny or not. If you are, well played. For those
who don't get the joke, Iceland was really on the verge of collapse and took
extraordinary measures to save their economy. If you did what they did in the
US or UK, you'd be labeled a communist. Basically, Iceland's reaction to the
credit crisis is the complete antithesis of what has happened in the rest of
the world.

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Zikes
It sounds like the trial will focus on Mr Hayes, but this was only possible
because of the collaborative effort of other banks. His co-conspirators should
be tried as well.

~~~
goodcanadian
Of course, it is going to focus on him; it is his trial. However, the article
says:

 _The first criminal trial . . ._

So, it sounds like there are more to come.

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imglorp
There's a whole network of nasty crooks behind this. I demand more blood.

[http://graphics.wsj.com/libor-
network/#item=Hayes](http://graphics.wsj.com/libor-network/#item=Hayes)

------
doczoidberg
if any hacker wants to help disrupting the banks:
[http://mapthebanks.com/](http://mapthebanks.com/)

~~~
jsingleton
FYI this is a project by
[https://opencorporates.com/](https://opencorporates.com/) (the largest open
database of companies in the world).

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supergirl
this trial will change nothing; whole financial system is a circus of
stupidity. the "scandals" will never end. people will always try to game the
system and that's normal. this guy is basically on trial for not being
ethical.

