One of the most shocking dimensions of this latest scandal is that no one may face prosecution. After last summer’s urban disorders, the police were imaginative in the use of the law to apprehend those involved. The courts handed down sentences to looters which were designed to be exemplary. A college student, with no previous convictions, was imprisoned for six months for nicking a £3.50 pack of bottled water. Yet there is serious doubt whether it will be possible to prosecute banksters who perpetrated a massive con involving sums which would buy many millions of bottles of water.
– Andrew Rawnsley on rigging of Libor.