Barclays to be Investigated by the British Serious Fraud Office

Today, The British Serious Fraud Office director David Green has revealed that he will be accepting the Libor case to investigate. After losing three executives, Including CEO BOB DIAMOND and paying a fine equivalent to $452 M, Barclays is on shaky ground, and they may be facing international criminal charges. Around the world, big banks are taking notes, because price fixing interbank loans seems to have become almost a standard practice. MSN news said that the Royal Bank of Scotland fired four traders in 2011 for ATTEMPTED rate fixing. They also report that, "questions have also emerged over whether Britain's central Bank, the Bank of England, may have encouraged Barclays to manipulate the rates." Tuesday, BoE Deputy Paul Tucker is set to testify before the parliament's Treasury Committee as to his knowledge and involvement in the controversy. The outcome of his testimony, on a personal scale, could impede him from taking over the BoE when Governor Mervyn King leaves, and on a large scale, could inextricably tie the BoE to the scandal. Standard and Poors has Barclays on a negative outlook.