Everywhere you look there is dishonesty and fraud. Not a day goes by without another Corporate Titan being mired in fraud. Yesterday it was phamacutical company Glaxo Smith Kline lying and cheating their way at the expense of consumers. Today it is Barclays lying and cheating their way at the expense of consumers. YOU CAN’T TRUST ANY OF THEM. The bigger they are the less trust they should receive.
CEO Robert Diamond resigned Tuesday amid intense political and investor pressure over the British bank's involvement in rigging the benchmark, used to set interest rates on an estimated $800 trillion of borrowings and derivatives. Jerry del Missier, who was named chief operating officer last month, also stepped down.
the bank agreed last week to pay $453 million to settle a U.K. and U.S. probe that showed traders had blatantly sought to manipulate the London interbank offered rate, or Libor, to disguise the high cost of the bank's own funding and to pad the profits of certain traders
Other banks that have disclosed they are being investigated include Citigroup Inc., Deutsche Bank AG,HSBC Holdings PLC, J.P. Morgan Chase& Co. and Royal Bank of Scotland GroupPLC.
He also sparked the ire of politicians and regulators with his brazen style that saw him defend banker pay and fend off a tax and insurance misselling scandal.
British drugmaker GlaxoSmithKline will pay $3 billion in fines — the largest health care fraud settlement in U.S. history — for criminal and civil violations involving 10 drugs that are taken by millions of people.
The government is going to monitor??? Why would that be needed? Deregulate everything. We can all trust corporate America to do the right thing. Corporations are run by adults and adults can be trusted. Where is the deregulate crowd when you need them.