U.K. To Criminalize Laziness And Stupidity

David Cameron has an idea.
Author:
Updated:
Original:

Sure, putting Tom Hayes in prison for the crimes of all interest-rate-manipulators everywhere was fun. But wouldn’t have putting UBS in prison been even more fun? David Cameron, who is on a recent mission to expiate his own Panama Papers-related sins, thinks so.

The U.K. government, as part of its Anti-Corruption Summit, said it would consider legislation that would criminalize the failure to prevent economic crime….

“It reverses the burden of proof. If there’s an offense, [the company] is guilty unless it has policies to prevent it in the first place,” said Barry Vitou, a partner in the law firm Pinsent Masons.

U.K. Mulls Criminalization of ‘Failure to Prevent’ Economic Crime [WSJ]

Related

SFO To See If It Can Get Someone Hanged, Drawn And Quartered For Liborgate

U.K. authorities jailed a banker and they liked it... Oh, they liked it.

Citi, UBS Libor-Rigger To Serve Everyone’s Prison Sentence

Tom Hayes is going away for a whopping 14 years.

If Tom Hayes Had To Do It All Over Again, He’d Only Manipulate Libor With Native English Speakers

Allegedly colluding with a French guy led to all kinds of problems (like putting stuff about (alleged!) collusion in writing because someone's accent was too thick to understand).

craig-carton-scalper

Craig Carton Pleads Stupidity, And Who Are We To Argue?

It’s the most believable thing he’s said about the ticket-scalping Ponzi scheme yet.

TrumpFinanceBros

Wall Street Probably Too Lazy To Accept President Trump’s Gifts

Or how Wall Street learned to just shrug off the fiduciary rule.

By Robert Sharp / englishpen (Simon Singh Press Conference) [CC BY 2.0], via Wikimedia Commons

U.K. Brexit Chief May Need A Little More Time To Figure Out What Brexit Means

In spite of what his boss has been telling us, it may have multiple meanings.

Photo: Getty Images

U.K. Prefers Empty, Comforting Brexit Mantras To Cold, Hard Reality

Theresa May & co. are upping their denial game in a big way, because they have nowhere else to go.