Comment: When the wolves start attacking each other

(See in situ)

When the wolves start attacking each other

instead of the sheep as prey, the pack falls apart.

Someone started picking on Bob Diamond.
Bob Diamond attacked BOE.
Barclays hint - we were not alone, other banks will get fined more.
BOE and Tim Geithner emails published blaming each other. (I have never before seen this sort of comms out in the open).
Now BIS wades into the fray.

Jamie Dimon is in deep trouble.
CDS mispricing should be next up for him.
This from Huffington today

Banks are going to have to start reserving against Libor litigation Q3. Suits are already being prepared/filed, e.g. by municipalities.
Other banks are going to get fined over Libor.

The mis selling of interest rate swaps has yet to come out.

Fun fun fun.

"In the end, more than they wanted freedom, they wanted security. They wanted a comfortable life, and they lost it all -- security, comfort, and freedom. When ... the freedom they wished for was freedom from responsibility, then Athens ceased to be free."