Back in August LIBOR scapegoat rigger Tom Hayes was sentenced to 14 years

His sentence has been reduced to 11 years

Said the judges who reduced the sentence:

  • "We are of the view that taking into account all the circumstances -- in particular his age, his non-managerial position in the two banks, and his mild Asperger's condition -- that the overall sentence was longer than was necessary to punish the appellant and to deter others"

I still haven't heard about any convictions for any of those who benefitted from Hayes' illegal actions: his managers, their managers, other executives on the teat, UBS and Citi shareholders, and on and on. Nope, Hayes is the sole scapegoat conviction so far.