Sants turned blind eye to LIBOR abuse - reports

The Times reports Sants' veto was revealed in the audit of the FSA's handling of the LIBOR scandal. The report found the watchdog's response was lacking in three key areas, adding it should have responded more quickly and effectively to early evidence of the problems. The report said FSA officials were made aware of dozens of allegations of abuse from as early as January 2007 but did not act. The Times said Sants rejected calls for a fresh investigation into LIBOR in early 2009 in spite of questions being raised over the thoroughness of the previous investigation by the British Bank...