RBS Latest Bank To Get A Gentle & Loving Tap On The Wrist As “Punishment”

The Royal Bank of Scotland was fined $612 million by the US and Britain as a result of its intentional manipulation of interest rates in the Libor scandal. However despite committing what the US Justice Department has termed “A stunning abuse of trust”, the punishment for the bank is still so relatively insignificant that RBS intends to pay the fine by simply cutting back on bonuses. No need to even completely eliminate the bonuses that are typically paid for a job well done and not for out and out fraud. The investigation is ongoing so who knows, maybe “whacky tie day” will be the next perk to vanish as the regulators continue their unrelenting crack down on corporate greed.

One thought on “RBS Latest Bank To Get A Gentle & Loving Tap On The Wrist As “Punishment”

  1. Bloody hell, I come to read about biz fraud and I get some shite about americans worshiping a candy bar. yet is still agree about this rbs hipocrosy.

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