By Dan Ariely
The interest rate rigging scandal that has engulfed Barclays was the result of a coordinated attempt at collusion by traders working for a coterie of leading banks over at least five years, according to a series of lawsuits and legal rulings filed in courts in Asia and North America.
Peter Madoff pleaded guilty Friday to enabling his brother Bernard Madoff to pull off the biggest Ponzi scheme in U.S. history - though Bernie's brother denied knowing the business was a sham until the firm collapsed.
Kids Company today announced the completion of the purchase of its first property, the Morgan Stanley Heart Yard in South London.
You win some, you lose some...
Could it get any worse ?
It is always exciting to overhear the conversations of people planning to do something bad, and there is something disturbingly compelling about reading the emails and instant messages exchanged by Barclays bankers in the process of rigging interest rates for their own gain.
New face required.
WestLB AG, the 180-year-old German state-owned lender that gained notoriety by trying and failing to make it as a global investment bank, ceased operations last week. Its demise is a lesson in hubris to its peers.
Vince Cable has urged shareholders in UK banks to rise up and purge their companies of corrupt executives, who he says have allowed 'systemic abuse' to take root in the banking system.