{"id":27496,"date":"2015-05-27T18:00:00","date_gmt":"2015-05-27T16:00:00","guid":{"rendered":"http:\/\/www.w-t-w.org\/en\/?p=27496"},"modified":"2015-05-27T18:09:49","modified_gmt":"2015-05-27T16:09:49","slug":"greed","status":"publish","type":"post","link":"https:\/\/www.w-t-w.org\/en\/greed\/","title":{"rendered":"The Greed Plea in a Libor Case"},"content":{"rendered":"

Matt Levine, the ex-Goldman partner who knows whereof he speaks, writes for Bloomberg:\u00a0 In London, Tom Hayes’s Libor manipulation trial started yesterday and this isn’t exactly legal advice but probably don’t say stuff like this in recorded interviews with criminal investigators?<\/p>\n

“I mean I probably deserve to be sitting here because, you know, I made concerted efforts to influence Libor,” Hayes said in a Feb. 1, 2013, interview.<\/p><\/blockquote>\n

Or:<\/p>\n

“The point is you\u2019re greedy,” Hayes said in a 2013 interview with U.K. investigators that Chawla played for the jury. “You want every little bit of money you can get because” that\u2019s your performance metric, he said.<\/p><\/blockquote>\n

One of my strong beliefs about financial crime is that the words “greed” and “greedy” have no analytical value. In a fraud case — where the accusation is that someone made money — saying that he wanted to make money <\/em>is just a superfluous appeal to jurors’ emotions, a way to deny the humanity of the bankster whose fate they’re deciding. “His motive was a simple one: greed,” said the prosecutor, annoyingly. But Hayes agreed, and on tape! Not helpful.<\/p>\n

\"Greed\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Matt Levine, the ex-Goldman partner who knows whereof he speaks, writes for Bloomberg:\u00a0 In London, Tom Hayes’s Libor manipulation trial started yesterday and this isn’t exactly legal advice but probably don’t say stuff like this in recorded interviews with criminal … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":22,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[70,22,13],"tags":[],"class_list":["post-27496","post","type-post","status-publish","format-standard","hentry","category-big-banks","category-corruption","category-finance"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t