The previously mentioned U.K.-based activist squad The Intruders somehow got inside the Investment Banking Awards, where they realized that this year’s most noteworthy accomplishment had gone unmentioned:

The Investment Banking Awards are the Oscars of the financial world. Dished out for so-called ‘innovation’, some of the world’s richest bankers gather together to congratulate each other on devising ever more creative ways to make obscene sums of money.

One of 2012’s most profitable scams was the bankers’ ‘innovative’ approach to a key interest rate called LIBOR. Virtually every bank at the event was involved in illegally colluding to rig LIBOR, ensuring that they would always be the winners in the multi-million pound bets they were making on the markets.

When we noticed that this money-spinner had been overlooked in the ceremony, we decided to show up and make sure the LIBOR-riggers got the recognition they deserve.

The erudite James Surowiecki brings his journalistic skills to the problem of a banking system that has subsumed the its own watchdogs, in The New Yorker: In order to work well, markets…

As scandal surrounding the Vatican Bank grows and grows, Der Spiegel looks back at the its recent history of extreme sketchiness: Whereas Benedict XVI and his predecessors have preached humility and ethical…

Via Iceland’s special prosecutor into the banking crisis has confirmed that raids have taken place today and that arrests have been made. The Central Bank of Iceland is among the institutions…

With a story about prosecuting Wall Street featured on the most mainstream of TV news shows, CBS’s Sixty Minutes, might there finally be enough momentum for some banking executives go to jail?

In this segment, two high-ranking financial whistleblowers say they tried to warn their superiors about defective and even fraudulent mortgages. Reporter Steve Kroft questions why the companies and their executives haven’t been prosecuted.

Wonkette has a disturbing account of the NYPD’s alleged arrest of Citibank customers for attempting to close their bank accounts. A snippet:

“I heard that a few dozen people had decided to head over to the local Citibank branch to talk about their student debt and close their accounts. I thought one of my friends might be among them so I walked the few blocks to the bank.

As I arrived I saw Citi Bank security guards locking the doors to the bank. Contrary to the City Bank PR statement, the cops were not yet on the scene when Citi Bank officials chose to lock the doors to the branch–effectively kidnapping those inside.”