handwritten note from Carter-Ruck's file saying "They will bring in blockchain -> if no blockchain -> scam -> fraud -> criminal"
NEW: Britain’s top libel firm, Carter-Ruck, acted for OneCoin - a $4bn crypto-fraud.
The firm threatened whistleblowers, journalists, regulators, and even the police.
Carter-Ruck's work helped the fraud continue as long as it did.
Was that a crime?
#politicslive Richard Holden losing it on the sofa... Not a great look shouting and gesturing at Nandy. (regardless of the substance)
Maybe he should take a look at the nato treaty wording....
Trump Spends Entire U.K. Trip Trying To Figure Out Where He Knows Prince Andrew From
How is this happening in 2025 in the UK?
Really hard to comprehend.
www.bbc.co.uk/news/article...
Dorries famously asked Microsoft when they were "going to get rid of their algorithms" when she met with them while planning the Online Safety Act.
"I see so you re most handsome man in the world".
He s clearly taken back. He 's been given a too easy ride.
Time for robust and legitimate scrutiny as with all who aspire to lead.
I'm generally a Maitlis fan. I can't stand Meta/Facebook. Never felt for Cleggmania at the time. But this interview is shockingly badly conducted by Emily Maitlis. Which is out of character, doesn't promote understanding of what is at stake. Shame.
open.spotify.com/episode/7gvH...
They couldnt say "of course hiring people on 8 and 9 figure comps is going to bring chaos, but that s our dear leader s vision."
I’m sorry but no. Protests and demos with dozens or low hundreds of attendees are not especially newsworthy. I’ve seen larger turnouts at a Warhammer event.
On this @planetmoney.bsky.social, we visit two countries that have some experience with data manipulation -- Argentina and Greece. To see what happens when governments get tempted to cook the books, and how hard it is to UN-cook them. www.npr.org/2025/08/08/1...
Trial by public opinion is a very bad idea IMHO.
I guess that's exactly why the SFO went after them. Most people would not have any sympathy for a trader/banker post great financial crisis. They were also much easier targets than bank cfo/treasurers who would likely have had the bank resources to defend themselves vigorously.
Influence on the submissions of his employers. More than the bank treasurer? More than the CFO? Remember, capital is the lifeblood of a bank, a bank treasury team is arguably much much more important than any trader/rainmaker.
Punishment commensurate with that. Here we got the sense that Hayes (and a few others but not in concert) single handledly moved libor to their will. The 2 most extreme submissions were removed from the calculation as a part of the process. I just don't buy how he would have had so much
As easy to determine. And now considers if he and others were successful in moving the price significantly. Then if libor kept down, who won/lost? And if libor kept up, then again who are the winners and the victims? If it was significant, it was a system wide issue, and so remedial action /
Well, I'm not a lawyer nor the SFO. And libor is no longer around. Any case, only thing that matters is whether this was illegal at the time. Also no entirely clear what 'the actions' are. After all any participation in a market will by definition influence the price. Whether it's manipulation isn't
But of course, he spent 5yrs plus in jail, and it cost his family more than most make in a lifetime. The cost of using the UK courts is insane, and counter to delivering justice. (see the cases against journalists. Belton etc..)
Then it needs a system wide punishment, not picking on a few individuals because their WhatsApp were recovered or their employer was too happy to throw them under the bus to avoid scrutiny of their own upper ranks. Anyway, looks like that injustice has been corrected.
But the problem it was trying to address is not an easy one to solve. And the people involved in submitting quotes or on the trading side, are generally small fry, doing a job the organisation has asked them to do. Maybe some individuals pushed the limits, but if the system is rotten...
I've been at odds for a number of years questioning the verdicts against the likes of Hayes as I was fortunate enough to know people involved in various parts of the libor process. Never struck me as a clearly fraudulent process. Archaic, less than ideal, for sure.
Tom Hayes’ conviction for Libor-rigging quashed by UK’s highest court https://on.ft.com/3IIdboi
Such a great point, clearly articulated. So few people understand it, and more importantly understand the practical implications.
I debated 20 far-far-far-right conservatives (racists? fascists?) on Jubilee's 'Surrounded.'
Here are some of the highlights of them unable to answer my basic questions or rebut the simplest of points. Not sure whether to laugh or cry.
Here's the full 'debate': www.youtube.com/watch?v=2S-W...
Truly awful idea. Am old enough to remember the gfc and the incredible intra day volatility. Just because the market is open doesn't mean it's functioning well.
Is this for real? If u re using dumb ai for social, how do I know the reporting is actually done the proper way?
Absolutely brilliant, inspiring man.
2000 years ago: the Romans would let an aqueduct destroy the Gardon Valley. We need clean water, but at what cost?
👂🏼 POD TIME👂🏼
Me and 🥁... @robinwigglesworth.ft.com on:
-Jane Street Vs the Indian market regulators 🍿
-huge nerds 🤓
-huge egos (Robin) 🇳🇴
-bed bugs! 🪲 🤮
(Don't worry if you're a normal and you don't know what Jane Street is. All will become clear.)
open.spotify.com/episode/2j8c...
"Slough, west of the capital, has a larger share of immigrants in its population than any other town or city in England. Probably not coincidentally, poor teenagers in Slough did better in their gcses last year than their counterparts anywhere"
www.economist.com/britain/2025...
From The Economist
