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Exclusive: Prosecutors, regulators close to making Libor arrests

Submitted by Bob-45 on Mon, 07/23/2012 - 15:33

Economy

By Matthew Goldstein and Jennifer Ablan and Philipp Halstrick
Sun Jul 22, 2012 6:20pm EDT
(Reuters) - Prosecutors and European regulators are close to arresting individual traders and charging them with colluding to manipulate global benchmark interest rates, according to people familiar with a sweeping investigation into the rigging scandal.

Federal prosecutors in Washington, D.C., have recently contacted lawyers representing some of the suspects to notify them that criminal charges and arrests could be imminent, said two of those sources, who asked not to be identified because the investigation is ongoing.

This sounds positive but,

Submitted by Jill Booth on Mon, 07/23/2012 - 17:02. Permalink

will it be just the minions who will be slapped over the wrist with a wet bus ticket, or will the Big Heads roll?
Excuse my cynicism, but the "rouge" traders will take the fall for the the real villains, and it will be business as usual for the Big Boys.