PLEASE NOTE:

MyNews24 is a user-generated section of News24.com. The stories here come from users.

 
ohomen171
 
Comments: 6
Article views: 0
 
 
Latest Badges:


 
View all ohomen171's badges.
 

Finally some corrupt bank executives may pay

07 July 2012, 23:16
I'm delighted to see that Britain's Special Fraud Office has opened an investigation into Barclay's Bank and the fraud with the LIBOR rate fixing scandal.

Finally a serious law enforcement agency has opened a criminal fraud inquiry into a megabank that is deemed "too big to fail."

The British authorities long ago saw that a case against a big bank or corporation would be too complex to be understood by a jury of 12 men and women of normal education and abilities. The British set up a special court to hear such cases. A very senior judge presides with the assistance of two assessors who are MBA's, CPS's, etc. These three highly trained people conduct the trial, make a determination of guilt and innocence and set a sentence. We might see some senior bank officers found guilty of fraud and sent to a British prison. (The sentences will be far lower than they would get if found guilty of a similar crime int he USA.

We are all upset that officers of megabanks here int he USA have escaped prosecution for their horrendous crimes here in the USA. We hear the lame excuses that the US Justice Department does not have the manpower and resources to pursue these cases. It is further argued that even if a case were put together, it could never be explained to a jury because it would be too complex. We also hear veiled warnings that a prosecution of bank officers would threaten the whole fabric of our economy and bring on another Great Depression.

The British have ignored all of these arguments and are courageously moving forward.

I suspect that the massive political contributions the megabanks hand out gives them "immunity from prosecution."
Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.

 

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
6 comments
Comments have been closed for this article.

Read more from our Users

Submitted by
Nicholas K Mashabela
The re-emergence of coalition pol...

This year (2016) local election will most likely become another nightmare for smaller parties. I however foresee more victories for the likes of EFF and DA.  Read more...

0 comments 183 views
Submitted by
Anni Upton
From Africa's most healthy econom...

Under the leadership of ex-presidents Nelson Mandela and Thabo Mbeki (both lawyers, with exceptional educational qualifications) from 1994 -2008, our beloved country can be typified as: Read more...

0 comments 282 views
Submitted by
SkerP
Oscar - Not an acceptable explana...

So Heather Malcherzcyk has scoured the Oscar trial record, and feels confident to educate us all, on the apparent basis that five justices of the Supreme Court, and nine justices of the Constitutional Court, are all idiots. Read more...

0 comments 554 views
Submitted by
No Ohno
To all who complain about the Sup...

I see many people complaining about the new Super rugby pool format, and how unfair it is that SA has 3 teams, and host matches, even though other pools teams have more points. Read more...

0 comments 73 views
Submitted by
Louw Venter
Now is the time to stop him

Self-actualisation is the highest form of human growth, someone who is self-actualised is a fully functioning human being. She identifies the characteristics below as unwaveringly related to a good leader.  Read more...

0 comments 65 views
Submitted by
MikeHampton
Ubuntu Party is the Ultimate Stup...

Meeting Tellinger was an absolute disappointment. He relies on charm and, where that fails, arrogance. He was unable to provide practical answers supporting the Ubuntu Party's manifesto. Read more...

0 comments 80 views
 

services

E-mail Alerts The latest headlines in your inbox

RSS feeds News delivered really simply.

Mobile News24 on your mobile or PDA

E-mail Newsletters You choose what you want

News24 on Android Get the latest from News24 on your Android device.

SMS Alerts Get breaking news stories via SMS.

TV Get us in your home, on your television.

 
Interactive Advertising Bureau
 
© 2016 24.com. All rights reserved.
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.