The FT notes on the record breaking UBS fine for LIBOR rigging:
The penalty may prove to be the biggest fine levied on banks that harboured a corrupt network of traders on three continents. Their common pursuit was massaging poorly supervised benchmark rates for profit and to conceal employers’ financial weakness.
So we now know the banks were corrupt. But we're not yet saying the same of another corrupt network run by the banks. That is their tax haven operations. Why not? As HSBC has proven, they enable the money laundering, the corruption and the tax crime that takes place in these places. Why aren't we seeing tat described as a corrupt network too?