Shaming the banks: a whole generation of leaders may have to go, FT says.

FT: On the Libor scandal: “This was market-rigging on a grand scale,” an editorial rages. “It is hard to think of anything more damning – or more corrosive of the reputation of capitalism.” The FT considers it “absurd that in the UK almost no bankers have been prosecuted for their role in the crisis and its fallout.” Now, with this new kind of systemic confidence trickery, no stone should be left unturned. As for Diamond, “he was clearly responsible for its hard-driving culture. If he had an ounce of shame, he would immediately step down.” But the broom had to sweep much further. “It may therefore be necessary to retire this generation of flawed leaders.”
JL: I had never thought to read this kind of language in the pink paper in my lifetime. If this is what their editorial writers think, what must it be like at the Socialist Worker?