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Libor: They all knew – and no one acted

Regulator’s claim it knew nothing thrown into doubt as documents show authorities were told of rate-rigging in 2008

BEN CHU - the independent

Regulators on both sides of the Atlantic failed to act on clear warnings that the Libor interest rate was being falsely reported by banks during the financial crisis, it emerged last night.

Click HERE to view 'The missed warnings how us authorities demanded changes... and were ignored' graphic
A cache of documents released yesterday by the New York Federal Reserve showed that US officials had evidence from April 2008 that Barclays was knowingly posting false reports about the rate at which it could borrow in order to assuage market concerns about its solvency.

Sandusky - They all knew - and no one acted.  

Report finds Penn State president, Paterno concealed facts about Sandusky sex abuse

Penn State released the findings of an internal investigation by former FBI Director Louie Freeh, which revealed how much top University officials knew about Jerry Sandusky's behavior and the failure of them to do anything about it. NBC's Michael Isikoff reports.

By Bill Dedman Investigative Reporter, msnbc.com

Penn State football coach Joe Paterno and other university leaders "repeatedly concealed critical facts" relating to assistant football coach Jerry Sandusky’s child sex abuse from authorities, according to Louis Freeh, the former FBI director who conducted an investigation for the university in the Sandusky scandal.

JPMorgan Blaming Marks on Traders Baffles Ex-Employees - Nobody in Management knew anything?

By Dawn Kopecki - Jul 15, 2012 11:24 PM ET

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JPMorgan Trade Blame Puzzles Former Executives

JPMorgan Chase & Co. (JPM)’s assertion that traders at its London chief investment office may have intentionally mismarked trades, masking losses that total at least $5.8 billion, makes little sense, according to former executives with direct knowledge of the unit’s operation.

U.S. Air Force court-martial set in widening sex scandal - They all knew and no one acted.

Mon, 16 Jul 2012 02:48 GMT

Source: reuters // Jim Forsyth

A member of U.S. security personnel pulls her luggage while waiting to depart from Iraq, at the former U.S. Sather Air Base near Baghdad December 15, 2011. REUTERS/Mohammed Ameen

By Jim Forsyth
SAN ANTONIO, July 15 (Reuters) - U.S. Air Force Sergeant Luis Walker faces court-martial on Monday on multiple charges of rape and aggravated sexual assault of female recruits in his training squadron, the first of several such trials in the biggest military sex scandal in 16 years.
Walker was one of roughly 500 Military Training Instructors at the Lackland Air Force Base in San Antonio, which conducts all of the Air Force's basic military training. If found guilty, Walker could face life in prison and dishonourable discharge.
Since Walker's arrest 13 months ago, five more training instructors have been charged with raping or having inappropriate sexual relations with female trainees, or improperly fraternizing with them.

Mitt Romney's "I Knew Nothing" Defense Simply Not Credible

Posted: 07/15/2012 7:56 pm

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As I watched Mitt Romney bomb the networks on Friday, steadfastly sticking to his story that he had nothing whatsoever to do with Bain Capital after February 1999, even though he was listed as the firm's Chief Executive Officer, President, and Managing Director well into 2002, I was reminded of the lame defense put up by Jeff Skilling, the now imprisoned CEO of Enron, claiming he knew nothing of the activities of Andrew Fastow, his CFO, in dozens of off balance sheet transactions, asset shuffling, and mark-to-market scandals that drove the company off a cliff in 2001, at that time the largest bankruptcy in US history. What made Skilling's story unbelievable was that he was well known as a brilliant micro-manager. Ultimately, the jury didn't buy his excuses. The Enron collapse seems like ages ago, especially after it has been so totally overshadowed by the gargantuan financial failures of the last 5 years.