Thing One: Let’s Make A Deal: They did the crime together. They might as well do the time together too.
A bunch of banks under scrutiny in the Libor scandal would like very much to have a ginormous, universal settlement with regulators, so that none of them are embarrassingly singled out the way first-mover Barclays was, according to a new Reuters report. We all saw what happened to Barclays — universal disdain, top executives walking the plank, moronic trader emails forever enshrined in Moronic Trader Email Valhalla. Egads, it’s enough to make one’s monocle pop out of one’s eye!