Royal Bank Of Scottland Fined $616 Million While Traders Laugh

The trader who were manipulating the LIBOR interest rate sent emails to each other celebrating their ability to fix the interest rate.  The emails were used as evidence against the RBS in the civil suits initiated by US and UK government agencies.  I'll bet that the traders are also free market advocates along with the senior executives in the bank who knew what they were doing.  The RBS shareholders, also paid a high price for their actions.  The directors, who are supposed to look after the interests of the shareholders, failed to their job as well.  Corporate governance in the banking system is a joke.