"The Financial Services Authority has admitted there was widespread knowledge of Libor-rigging among its employees years before it launched an investigation in 2010, but denies "major regulatory failure".
A bit like Jimmy Savile then. There's always been a lot of it about, this sudden discovery of scandals that everybody knew about.
In the 90s the Competition Commission had a go at price fixing on white goods. It had been blindingly obvious to anybody paying attention that it had gone on for years. Those in the sector all knew who did it and how, and but "strenuously" denied it existed.
www.independent.co.uk/news/plug-pulled-on-electrical-goods-pricefixing-1281366.html
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