A former city trader has been jailed. Former City Trader has been jailed for 14 years after being found guilty of rigging the Libor Rates.
It’s been a while since I’ve commented on a banking scandal. One had to pop up sooner or later.
Before I make my next comment I know what he has done is a serious offence but 14 years for this really does feel a bit extreme to me.
I know there are some people really are pissed off for what he’s done but 14 years is bit long.
He’s not really a threat to the community or the people at large. Give him a smaller sentence and then legally ban him from working in the city or any major financial hub for the rest of his life.
For the people who hate bankers this must feel like a giant win for them.
Confidence in the bankers and city traders will probably drop down even further. Let’s face it, it was pretty low and people don’t trust. This is going to make people not trust them even further. This person will be less trusted than anybody. Granted when the man comes out people will know his face and he might possibly cause trouble for him.
If they actually cared after 14 years of sentence been served.
A City Banker has been sentenced for fixing the Libor rate. This is going to drop people’s confidence in the banking sector.