I have long maintained that senior executives on Wall Street were very much aware of the collusive racketeering in the Libor rigging scandal. Why so? When a trader ‘makes it rain’, that is, he is connected to a P/L that generates hundreds of millions of dollars, you better believe that the execs up the chain of command will want to know how the money is being made.
To think otherwise would display a level of naivete not found in these markets.