This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.guardian.co.uk/commentisfree/2013/jun/21/unthinkable-overcrowding-in-bankers-jail

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
Unthinkable? Overcrowding in the bankers' jail Unthinkable? Overcrowding in the bankers' jail
(3 months later)
"What are you in for?" He got the question a lot, that first week. It took him ages to work up the courage, but finally out it came: "Mortgages. I sold a few screwy mortgages.""What are you in for?" He got the question a lot, that first week. It took him ages to work up the courage, but finally out it came: "Mortgages. I sold a few screwy mortgages."
Then, bam! The watchdog came down on him like a tonne of BRICs – and it was three months inside; do not pass go; do not collect a bonus.Then, bam! The watchdog came down on him like a tonne of BRICs – and it was three months inside; do not pass go; do not collect a bonus.
Once his admission was blurted out, the others had plenty of their own. "Someone grassed me up for payment protection insurance."Once his admission was blurted out, the others had plenty of their own. "Someone grassed me up for payment protection insurance."
The most common kind of banking criminal; loads of them were banged up under the new custodial sentencing regime for rogue financiers proposed by Andrew Tyrie and his banking-standards do-gooders.The most common kind of banking criminal; loads of them were banged up under the new custodial sentencing regime for rogue financiers proposed by Andrew Tyrie and his banking-standards do-gooders.
"Interest-rate swaps for butchers: beak sent me down for a year.""Interest-rate swaps for butchers: beak sent me down for a year."
"Libor fixing." Now they were the hardnuts, the money market fiddlers. You didn't talk to them, didn't even look at them or – pop! – there'd be a Bollinger cork in your eye."Libor fixing." Now they were the hardnuts, the money market fiddlers. You didn't talk to them, didn't even look at them or – pop! – there'd be a Bollinger cork in your eye.
But that was the thing about Tyrie's nick, built in Docklands in 2014: it was full to overflowing with bankers. Dodgy sales; compromised equity analysis; dubious derivatives – they were all packed in three to a cell.But that was the thing about Tyrie's nick, built in Docklands in 2014: it was full to overflowing with bankers. Dodgy sales; compromised equity analysis; dubious derivatives – they were all packed in three to a cell.
But then there was E-block, both the cushiest and the most depressing wing of the entire jail. That was where the executives stayed, the bosses who'd driven their banks over a cliff.But then there was E-block, both the cushiest and the most depressing wing of the entire jail. That was where the executives stayed, the bosses who'd driven their banks over a cliff.
They got the best perks: steak every night; shifts in the library (aka the department of cooked books). Best of all, they didn't have to face the overcrowding – because there were an awful lot of bent bankers in there.They got the best perks: steak every night; shifts in the library (aka the department of cooked books). Best of all, they didn't have to face the overcrowding – because there were an awful lot of bent bankers in there.
Our editors' picks for the day's top news and commentary delivered to your inbox each morning.