Four years on from the financial crisis, new scandals still seem to break out every few months. HSBC, the big British bank, just agreed to a $1.9 billion settlement over money laundering. That was followed by the arrests of several London traders, including one who had worked for Swiss giant UBS and Citigroup, on suspicion of interest-rate manipulation--and banks are bracing for more to come. A driving force behind this latest crackdown tied to LIBOR, the London interbank-loan rate that is critical to global banking, is Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission (CFTC), who since 2009 has...
The Money Cop
Gary Gensler got his start on Wall Street. Now he's cleaning it up--and taking on the biggest banking scandal since the financial crisis
Subscriber content preview. or Log-In
To continue reading: or Log-In