{"id":3290,"date":"2012-12-03T20:41:18","date_gmt":"2012-12-03T19:41:18","guid":{"rendered":"http:\/\/www.w-t-w.org\/en\/?p=3290"},"modified":"2012-12-04T16:10:16","modified_gmt":"2012-12-04T15:10:16","slug":"another-libor-fine-this-time-ubs","status":"publish","type":"post","link":"https:\/\/www.w-t-w.org\/en\/another-libor-fine-this-time-ubs\/","title":{"rendered":"Another Libor Fine, This Time UBS"},"content":{"rendered":"<p>The\u00a0fine is not even a tenth of UBS\u2019s annual revenue (expected at $32 billion this year). \u201cLibor rigging was carried out by individuals on behalf of banks. Nine-figure fines paid by the banks, and zero prosecutions of individuals simply passes the tab onto the shareholders and does nothing to root out of the causes of this corruption?\u201d says Cornelius Hurley, a Boston University law professor. \u201cWhere is the deterrent effect?\u201d So far, no UBS executives have stepped down. When the scandal broke at Barclays, it led to the CEO\u2019s resignation and a shakeup in the company\u2019s highest offices.\u00a0 <a href=\"http:\/\/www.forbes.com\/sites\/abrambrown\/2012\/12\/03\/libor-scandal-extended-to-ubs-bank-reportedly-near-450m-settlement-with-regulators\/\" target=\"_blank\">Article<\/a><\/p>\n<p><a href=\"http:\/\/www.forbes.com\/sites\/abrambrown\/2012\/12\/03\/libor-scandal-extended-to-ubs-bank-reportedly-near-450m-settlement-with-regulators\/\" target=\"_blank\"><img decoding=\"async\" src=\"http:\/\/m.static.newsvine.com\/servista\/imagesizer?file=robtornoeED2B58C5-21C9-1850-CEFE-001F065B8E0A.jpg&amp;width=380\" alt=\"\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0fine is not even a tenth of UBS\u2019s annual revenue (expected at $32 billion this year). \u201cLibor rigging was carried out by individuals on behalf of banks. Nine-figure fines paid by the banks, and zero prosecutions of individuals simply passes &hellip; <a href=\"https:\/\/www.w-t-w.org\/en\/another-libor-fine-this-time-ubs\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-3290","post","type-post","status-publish","format-standard","hentry","category-finance"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"The fine is not even a tenth of UBS\u2019s annual revenue (expected at $32 billion this year). \u201cLibor rigging was carried out by individuals on behalf of banks. 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