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Message: Apologies not enough?

The LIBOR thing is ongoing and gets bigger by the day. I find this excerpt very interesting from the provided link, and see how restitution is entering the picture. This is very important and may set a precedent in further legal action taken against the manipulators. I mean really, how good is an apology when someone robs you? When a buglar comes into your home and steals $5000 dollars from, and leaves a note that he is sorry, does that fix things? You are still out your $5000 and he is in $5000 and has the enjoyment of spending it. An apology is such a small price to pay when you consider a monetary value of an apology at $0. So, maybe the criminal gets caught and pays a fine, where does the fine money go? All of this should be paid back in restitution to the victim and if the perpetrator doesn,t have it to pay back, he should be put to work to pay the full amount back, not these slaps on the wrist.

The deliberate takedown of many gold stocks may be the next thing on a list of clean up. Really, it breaches the integrity of the markets, to allow stocks to be driven below their value of what they had in the bank, ludicrous! A lot of dough was made on shorting these resource stocks and will be made on the upside, this blatant advantage of the perpetrators questions dearly the integrity of the markets as well as the future. Many investment dollars are and will be hauled out of the markets as more people realize they are just being robbed and this in turn will weigh on global economics, throwing yet another nail into the coffin of the financial system.

SLI,s sp right now has the Tesoro with approx value of $3 million dollars, to equate that into gold you would only need 1875 ounces of gold at $1600 per ounce, to arrive at that value, absurd! This is not a well functioning market dictating a stocks sp when you have such a huge disconnect between the POG and share prices, all fundamentals are thrown out the window as well as an means of measuring a companies worth. How can anyone seriously invest in a market that has no controls in place? The trading records are all there to be accessed by the exchange if they want to, its not hard to see the walk down of some of the sp,s and to see who is responsible. I am guessing that there will be new jobs for the regulatory bodies, as a much bigger collective is needed to investigate and set things right for our future markets.

"But it also set aside another $1 billion to compensate British customers for mis-selling them loan insurance, and $237 million to cover payouts to small UK businesses wrongly sold complex interest rate hedging products."

http://www.reuters.com/article/2012/07/30/us-hsbc-earnings-idUSBRE86S0T520120730

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