Lloyds judgement underlines severity of rigging scandal

Rigging liquidity scheme payments adds insult to injury

Alexander Campbell

More than two years after the first Libor rigging fines were imposed on Barclays, the scandal continues to find new ways to amaze and infuriate. The latest, of course, is not the disclosure that staff at Lloyds and Bank of Scotland – merged since 2009 – had spent several years lying about their interbank borrowing costs, either to rig the rate for their own gain or to give a false impression of the bank's soundness during the financial crisis. This is pretty much the same story we