Barclays just the tip of the iceberg as banking braced for more scandals [View all]

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http://www.guardian.co.uk/business/2012/jul/08/banking-scandals-barclays
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Barclays' fine covers two main offences: the first, that traders helped each other out by fiddling the rates they reported to the British Bankers Association from about 2005; the second, that Barclays massaged its submissions lower during the banking crisis in 2008, to protect the bank's public image and prevent the government stepping in to rescue it.

When the regulators – the Financial Services Authority in the UK, and in the US the commodity futures trading commission and the department of justice – published their findings, they made it clear that Barclays was just one of the banks under investigation. As as many as 20 others are co-operating with the authorities.

Deutsche Bank became the latest to see its name linked with Libor-fixing on Friday, when the German financial regulator, Bafin, was revealed to be investigating it. Shares in the German bank fell although it had already admitted that it had been subpoenaed by a number of authorities in Europe and the US earlier in the year.

As more findings emerge over the coming months, the public is likely to be left with the impression of an entire industry rife with what ex-Barclays boss Bob Diamond repeatedly told MPs last week was, "reprehensible behaviour".
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