Ex-Trader Charged With Manipulating Libor: Sure I Broke Some Laws But, Honestly, Who Hasn't?

Tom Hayes isn't sure why he is being singled out.
Author:
Publish date:
Updated on

Plus, he never tried to cover it up so...shouldn't that be worth something? Is there no wiggle room here?

Prosecutors say that Hayes persuaded brokers and traders to influence rates in ways that suited his trading positions. His defense is that he was open about his attempts to influence rates, that it was common practice and that senior managers were aware of it...When asked by Chawla if he thought it was acceptable to manipulate financial situations to make money, Hayes said that with regards to broking it was industry practice. "There's been a lot made of honesty and dishonesty, but you don't give it a considerable amount of thought," he said.

'Near-suicidal' Libor trader Hayes says anger drove plea change [Reuters]

Related: What Other Types Of Crimes Would UBS Traders Happily Commit For A Candy Bar?

Related