PLEASE NOTE:

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

 
ohomen171
 
Comments: 6
Article views: 591
 
 
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.
 

Read News24’s Comments Policy

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
Add your comment
Comment 0 characters remaining

Read more from our Users

Submitted by
Ryan Blom
Bedford Centre Robbery

I would imagine Bedford Centre brings in tens of millions each month - why can they not afford proper security and measures to ensure the safety of their clients? Read more...

9 comments 701 views
Submitted by
CraigJoseph
Shouldering the blame...

It is with great disgust that we have learnt about the actual financial cost of corruption over the last 20 years. Read more...

4 comments 172 views
A road by any other name...

After months of squabbling a section of road finally got itself a name, or renamed I guess. What was wrong with the old one, who knows? Read more...

0 comments 9 views
Submitted by
woadstress
Looking deeper

The next time you are having a bad day, when things are not going as you planned, take a moment to look around you, look at random people from all walks of life and social status and fantasise.  Read more...

1 comments 43 views
Submitted by
The Scribe
Dear Eskom

While we understand that there are problems with the supply of electricity, we, your PAYING PUBLIC, are really getting sick and tired of the on again off again state of our electricity supply. Read more...

13 comments 217 views
Submitted by
Craig Pedersen
What's a few billion between frie...

In the time it takes you to read this - around 10 RDP houses could have been built with the amount of money that the government has lost to corruption. Read more...

40 comments 2658 views

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Kalahari.com - shop online today

Save up to 40% on outdoor accessories!

Tents, sleeping, day packs and more. While stocks last. Shop now!

Month End Madness Sale!

Save up to 60% on across a wide range of goods from books to electronics, DVDs and many more. Sale end 31 January 2015. Shop now!

Valentine’s Day gifts – 14 Feb!

Gifts to spoil him and her. While stocks last. Shop now!

30% off fragrances

Get 30% off fragrances for him and her. While stocks last. Shop now!

Up to 30% off All Textbooks

Save up to 30% off an extensive range of prescribed textbooks for all major universities and FET colleges. Shop Now!

OLX Free Classifieds [change area]

 

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 your iPhone Get News24 headlines on your iPhone.

SMS Alerts Get breaking news stories via SMS.

Blogs Your opinion on you, me and everyone.

Calais Website keywords automated by OpenCalais.

 
Interactive Advertising Bureau
 
© 2015 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.