Thursday, February 07, 2013

A criminal charge

DOJ was able to get the Japanese unit of the Royal Bank of Scotland to plead guilty to criminal wrongdoing for its role in the LIBOR scheme.  Okay, the company was hit with the charge.  No people were.  But, it is a step up the ladder of providing enough incentive to dissuade people from violating the law. RBS also had to pay a fairly large fine, $612,000,000.

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