Now this is sensational: 14 years for LBOR-rigger Tom Hayes. Around these parts we have long advocated punitive measures against convicted banksters and this is the kind of sentence that nice middle class people can't confortably contemplate. If it can happen to Hayes in the City - and Jeff Skilling at Enron - surely there are wider applications.
The remaining issue is: when do the senior managers find themselves coming to this salutary and bracing pass? And what's the statute of limitations in such matters?