Citibankers And Other Crooks

£150 billion in five years – new league table throws new light on cost of banking misconduct Ten of the world’s leading banks have racked up fines and similar "conduct costs" of nearly £150 billion over a period of just five years. This is one of the findings revealed in a new analysis published today (Thursday 28 November) by the London School of Economics and Political Science (LSE). The researchers, led by LSE Professor Roger McCormick, assessed the costs accrued by ten of the world’s leading banks across the UK, Europe and America as a result of misconduct. When put together, and reviewed over the period 2008-2012, these ten banks alone incurred nearly £150 billion for misconduct of various kinds, including mis-selling PPI and other products, manipulating LIBOR, and failing to observe anti-money laundering rules.



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