MAS's Double Standards

[lee6100]

[h=2]Former Trader Is Charged in Libor Probe[/h] British prosecutors filed criminal fraud charges against former UBS and Citigroup trader Tom Hayes for allegedly trying to manipulate benchmark interest rates, in the first effort by British authorities to seek criminal penalties against someone they allege was involved in manipulation of the London interbank offered rate, or Libor.
The U.K.'s Serious Fraud Office said in a statement that Mr. Hayes was charged with eight counts of conspiracy to defraud in connection with the Libor investigation.


These are criminal acts. MAS won't prosecute because many involved in the rate rigging are ang mo FTrash. We pander to the foreigners so much that we dare not even do the right things. So typical.

 

[scroobal]

Its a joke, within a week of Singapore authorities declaring that the none of the 133 bank staff did anything criminal for SIBOR rigging, the British authorities have begun criminal proceeding for LIBOR rigging. I suppose that one starts letter "S" and the other letter "L".

I wonder if the MAS will wake up like they did with the 2 GIC Tokyo equities traders when the Japanese started making noises and what was initially swept under the carpet was finally acted on nearly a year later.

No moral compass, no intestinal fortitude but happy to take the world's most expensive remuneration rates for public service.