New York Attorney General Goes After Libor Manipulators

Friday, August 17, 2012

Barclays Bank Fined Over Libor Investigations (Oli Scarff/Getty Images)

If you think the government isn't serious about going after bankers, you don't work at the New York Attorney General's Office. Only weeks ago, Standard Chartered Bank made headlines when it was revealed that they allegedly laundered more than $250 billion for Iran, which is illegal in the United States. The State of New York has since settled with Standard Chartered, but now they have their eye on a bigger fish.

New York Attorney General Eric Schneiderman has set his sights on banks that manipulated Libor. He's sent subpoenas to JP Morgan Chase, Barclays, Royal Bank of Scotland, Citigroup, Deutsche Bank, HSBC and UBS signaling that this banking scandal is far from over.

Peter Henning, professor at Wayne State University Law School, says it won't just be difficult to hand out sentences, it might be awhile before we know whether anything illegal happened at all.


Peter Henning

Produced by:

Joe Hernandez

Comments [2]

Larry Fisher from Brooklyn, N.Y.

Nobody is going to jail...If Eric Schneiderman can get money out of the banks fantastic... Schneiderman needs to be careful or he could go the way Spitzer went. Spitzer did what he did, but who ratted him out. Take a guess...

Spitzer was about to expose the sub prime mortgage fiasco...and other problems of Wall Street and the banks when he went bye bye.

Nothing will happen here for past indiscretions. Perhaps Schneiderman can lay down the law with Banks and Wall Street about future events, and if he succeeds, wow, the guy will be able to become Governor and President... Spitzer as his VP. Tough guys on Wall Street. Giuliani had an easier time taking down the Mob,

Aug. 17 2012 09:24 AM
fuva from harlemworld

What about MF Global?

Aug. 17 2012 09:14 AM

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