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Monday 3 August 2015

Libor scandal: Former City trader Tom Hayes gets 14 years for rigging rates !

One thing you can rely on these days in the UK is a total lack of any natural legal justice. A good example is this case that ended today. A former City trader received 14 years for rigging Libor rates. The big guys at the Banks leave with multi million pay off's, Knighthoods and eye watering pensions when they fail. The small guy gets 14 years. OK, he has been found guilty of a serious offence, but put this into perspective.

A man can batter a women senseless leaving her with with broken bones and mentally and physically scarred for life and get months in prison, a man can rape a child and not get 14 years.

As always, one rule for the rich and powerful and a totally different ball game for the poor. I hope this guy appeals and gets a big sentence reduction, two or three years in prison would have still sent shock waves to those who fiddle the books to line their own pockets. If you believe the Bosses of the Banks did not know this sort of malarkey was going on, then you probably believe the moon is made of cheese.

One thing is for sure Tom Hayes has not received justice. 

More on this story here.


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