#UK taxpayers to pay US$800m American regulator fine issued to 81% state-owned #RBS for fixing #LIBOR interest rate tinyurl.com/bfr5s2r— Asad Yawar (@Mediolana) January 15, 2013
#RBS fine takes total paid by UK taxpayers to US regulators over past year to US$3bn+; 'special relationship' intact tinyurl.com/bfr5s2r— Asad Yawar (@Mediolana) January 15, 2013
Filed under Business, Finance, Political Science, Politics
Tagged as City of London, financial regulation, Financial Services Authority, HSBC Holdings plc, John Hourican, LIBOR, Royal Bank of Scotland, Stephen Hester, United Kingdom, United States
The beauty of corporations is that they can be abandoned by finance when they are no longer needed. Those in the know know when to let governments take over the mess, when to let Jessops and HMV go bankrupt. We worship finance so much that we allow it to be unfettered by responsibility, giving it free reign to exploit. Why is the UK threatening to leave the EU? Because the EU want to regulate finance properly, and the city of London cannot allow that to happen.
This could all end rather stickily…money does have a way of bewitching susceptible governments…
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