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The City cesspit stinks of corruption
A recent class action law suit against two British banks over allegations of rigging the foreign exchange market are only the tip of a dirty iceberg in a sea of effluent, writes STEVEN WALKER
merchant banker

THE latest revelations about British banks’ squalid, illegal and corrupt behaviour is another in a long line dating back to the Thatcher government’s deregulation of the City of London in the 1980s.

This enabled City financial institutions to become saloon-bar brawlers in a gambling casino where risks to customers’ money were taken and money laundering of Mexican and Colombian drug cartels was facilitated.

Barclays and RBS are among five banks being sued in Britain over allegations of rigging the foreign exchange market.

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