SURELY, Tom Hayes has suffered enough. He wrongly served five-and-a-half years in jail for manipulating the LIBOR interest rate, used to fix borrowing costs on personal loans and mortgages. Hayes fought a decade-long battle to clear his name, finally succeeding in the UK Supreme Court last year.
He always maintained his superiors at the bank where he worked, UBS, knew what he was doing and he was operating to their wishes and direction, and in accordance with the rules of LIBOR and the law.
