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Royal Bank of Scotland to pay $612 million to resolve Libor case

Traders at the venerable Royal Bank of Scotland were so blatant about rigging benchmark interest rates for nearly five years that they bragged about it in e-mails and Internet chat rooms. In one instance, a senior trader at RBS told another, “it’s just amazing how [rate] fixing can make you that much money; it’s a cartel now in London.” Even a manager, at one point, admitted that “pure …

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