Wednesday, 6 February 2013

The Smoking Gun

Cunning devils, those money market traders. Look how they brilliantly throw sand on their tracks, in this taped conversation released after RBS was fined the thick end of £400m smackeroos today:

August 20, 2007:
Senior Yen Trader: This Libor setting is getting nuts.
Senior Yen Trader 2: It's just amazing how libor fixing can make you that much money.

Oh dear. Even Dixon of Dock Green could have worked out who to 'accompany me to the station' after hearing that one.

And Miss Marple wasn't needed to decipher this one:

September 15, 2009:
Yen Trader 1: Can we lower our fixings today please?
Primary Submitter: Make your mind up.  Haha , yes no probs.
Yen Trader 1: I'm like a whore's drawers.


4 comments:

Electro-Kevin said...

George Osborne's plan to make the bankers pay (through loss of bonuses)rather than taxpayers.

Won't this result in an exodus of talent from RBS ???

And if there is no exodus doesn't this open a can of worms about the bonus culture ?

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David Morris said...

Recorded in 2007 ?



Well done FSA. Trebles & bonuses all round.

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