The scandal exposed what appeared to be a prevalent “spiv” culture in which bottles of champagne were on offer in exchange for fixing rates. “Dude. I owe you big time!” one outside trader e-mailed an unidentified Barclays employee. “Come over one day after work and I’m opening a bottle of Bollinger.”
On a scale of 1 to 10, how surprised are you when you read about another banking scandal? Oh, not at all? Okay, then!