Tag Archives | LIBOR scandal

Deutsche Bank settlement: does the punishment fit the crime?

27 April 2015 in Accountability, Civil society, Cost of Corruption, Financial Integrity, Financial Markets, Impunity, Private sector

Germany’s biggest bank, Deutsche Bank has agreed to pay a record US$2.5 billion in fines to US and UK authorities after one of its subsidiaries pleaded guilty to wire fraud for its role in manipulating LIBOR. This is more than your everyday bank scandal: LIBOR has an impact on millions of people, if not billions […]

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Corruption and banking: forex heralds an important change in rhetoric

19 November 2014 in Accountability, Anti-corruption Conventions, Anti-corruption movement, Asset recovery, Civil society, Europe and Central Asia, European Union, Financial Markets, Impunity, Lobbying, Measurement and Research, Politics and government, Private sector

This week’s announcement about the rigging of the foreign exchange markets marks one significant change: at last, the media and the Chancellor are using the word corruption to describe this behaviour. Today we take tough action to clean up corruption.” – UK’s Chancellor of the Exchequer George Osborne Since the financial crisis started in 2008, banks have been fined […]

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A Treatise of Banking Nature

30 April 2013 in Accountability, Private sector

When the publication of his Treatise of Human Nature met with almost universal indifference, Scottish philosopher David Hume remarked glumly that it “fell still-born from the press”. Anthony Salz – Rothschild banker and City of London grandee – will understand those sentiments after the rather muted reaction to his own tome on human nature, a […]

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