[ … which is still – the last time I looked
the most expensive piece of ‘real’ estate
on the monopoly board ]
The Investment Banking Awards are the Oscars of the financial world.
Dished out for so-called ‘innovation’,
some of the world’s richest bankers gather together
to congratulate each other
on devising ever more creative ways to make obscene sums of money.
One of 2012’s most profitable scams
was the bankers’ ‘innovative’ approach to a key interest rate called LIBOR.
Virtually every bank at the event was involved in illegally colluding to rig LIBOR,
ensuring that they would always be the winners in the multi-million pound bets they were making on the markets.
When we noticed that this money-spinner had been overlooked in the ceremony,
we decided to show up and make sure the LIBOR-riggers got the recognition they deserve.