Category Archives: The American Way

Time To Hang The Boatswain Mates

The Market Has Spoken, and It Is Rigged

In the aftermath of the Barclays rate-fixing scandal, the most surprising reaction has been from people in the financial sector who fully understand the awfulness of what has happened. Rather than seeing this as an issue of law and order, some well-informed people have been drawn toward arguments that excuse or justify the behavior of the Barclays employees.

But first, let us rationalize JPMorgan and MF Global.