What he means is that he was sickened that his underlings were stupid enough to leave a paper trail. His nausea will be somewhat soothed by the $3.5 million he gets as a golden parachute. This, however, is about a tenth of what he expected to get. How will he make the payments on his Rolls?
From what's coming out it appears that all the big banks were doing this. Not a huge surprise there. That was the whole idea of deregulation, or rather decriminalization. But they weren't satisfied with skimming hundreds of billions a year (trillions over time) from the world economy. These "smartest guys in the room" managed to bankrupt their own rigged casino.
They really got in trouble when they started rigging the LIBOR to keep the derivatives "market" from collapsing. Upwards of a quadrillion dollars went into dark market contracts on everything and anything, much of it simply gambling with other people's money.
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