Emily Thornberry Quotes


There are some very plain, very simple offences in the Fraud Act 2006 that can be applied to price manipulation. For example, there's fraud by false representation. This is aimed at people who say something misleading to line their pockets or cause financial harm to someone else.


Citations

Thornberry, Emily. "Libor Rigging Is Fraud, and Fraud Is a Crime." The Guardian, Guardian News and Media, 4 July 2012.

Related Quotes

Greenspan was not the amoral fool that this quotation makes him seem. Despite the fact that he was the most important financial officer of the country, he had an ideological faith that a free market was self-corrective in a democracy. The financial industry would police itself he believed. He also trusted the self interest of the financial corporations to restrain them from getting too greedy -- {637989}. He and many others were wrong and most Americans paid the price.


The then attorney general had begun a series of investigation which discovered that most of the major Wall Street brokerage houses were engaged in systematic frauds to cheat small investors. One dramatic fraud he uncovered was that the research expert analysts of major firms would recommend the stock of businesses that their firm was doing investment banking for even when they knew that the companies were not doing well or were even in deep financial trouble. See {627544}.


While not every person in the stock market was dishonest, a large number were, and the system itself was inherently unfair and disadvantaged the average investor. Despite the many reforms attempted over the years, as the 2008 meltdown proved, the same problem was still with us. Capone was essentially right then and even today.


Emily Thornberry
Emily Thornberry
  • Born: July 27, 1960
  • Nationality: British
  • Profession: Politician

Emily Anne Thornberry is a British politician who has been the Member of Parliament (MP) for Islington South and Finsbury since 2005. A member of the Labour Party, she has served as Shadow Secretary of State for International Trade since 2020. She had previously served in the Shadow Cabinet of Jeremy Corbyn as Shadow First Secretary of State from 2017 to 2020 and Shadow Secretary of State for Foreign and Commonwealth Affairs from 2016 to 2020.