Banks Back in the Firing Line- 28th June 2012

Barclays has just been fined £290 million for trying to change interest rates at which banks lend to each other.

It seems that other banks are also under investigation, and the FSA Financial Services Authority stated that it doesn't see Barclays as a lone bank manipulating interest rates.

Barclays at its own admission said their actions fell well below expected standards, other banks that maybe under investigation are citigroup, JP Morgan, Deutsche Bank, HSBC and RBS.

A leading business man when asked what they thought about the latest bank scandal Graham Hearsey CEO of Business Insurance 24 7 said "it seems to me that banks and politicians are corrupt everywhere. They end up causing the ordinary man and women in the street, the pain of clearing up their mess and the regulator then impose high fees against business and people who have nothing to do with these idiots and greedy individuals."