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Senior bankers favour jail terms for Libor manipulation

The majority of senior bankers would like to see those responsible for Libor manipulation face prison sentences.

Jail banker small

Lansons Communications founder Tony Langham asked 68 senior bankers and executives in companies that are in partnership with banks whether they thought those responsible for the recent scandals should be handed prison sentences.

The majority, 52 per cent, said they should face jail while 30 per cent said they should not.

Langham’s blog on the results shows there was visable shock at the results of the poll.

He said: “There was an audible gasp in the audience when the results played back as the room was surprised at the level of support for prison terms.

“This shows the scale of the task facing  bank senior management, such as  Barclay’s Chief Executive Antony Jenkins who pledged that  ”we need to change our culture” on taking the job in August this year.  Depressingly for many people bored with subject, we will be spending at least one more year discussing how to re-build trust in financial services.

Despite this, 43 per cent said they are expecting hardly any change to the culture in banks over the next five years. Just 4 per cent believe it will totally change.

When asked what they thought the mood among politicians was towards bankers at the moment, 51 per cent guessed it was worse than last year and 15 per cent imagine it is much the same.

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