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Rate fixes nabs bankers and traders

 

Re the Feb 7 article, RBS fined over fixing of rates: Finally, the stockholders aren’t being punished for the wrongdoing of bankers and traders. In this instance it’s because 80 percent of the Royal Bank of Scotland belongs to the British citizens. Regulators should follow their example in the future and punish the traders, and when there is criminal intent they should go after the criminal and not just levy a monetary fine against the bank. Even though RBS isn’t hurting the stockholders by cutting 2012 bonuses, the bank is still punishing some of the wrong people, not just those who fixed the Libor rate.

Steven Z. Levinson, Miami Beach

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