Compliance

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Greg MacSweeney
Greg MacSweeney
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Wall Street's High Crime Area, Libor Scandal Expands, Confidence Crisis, and More

The Libor scandal continues to spread, with more banks and regulators being placed under the microscope for their involvement in rate rigging. Meanwhile, Wall Street's image continues to take a pounding while UBS Americas' chairman strikes out on his own.
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4. Mean Street

There's never been any accountability on Wall Street. Wall Street's a high-crime area and the criminals are just let to run free. This would never be tolerated anywhere else in America, and it’s time to end the two sets of laws.

— Dennis Kelleher, President & CEO, Better Markets, Inc.

Source: NY Times: The Federal Reserve and the Libor Scandal

 

Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio

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