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Barclays has been fined, the British have issued their report, and now everything can go on as usual with the London Interbank Offer Rate ("LIBOR"), right?

By: capt_nemo in ROUND | Recommend this post (0)
Thu, 18 Oct 12 4:03 PM | 33 view(s)
Boardmark this board | De's Test Board 		Msg. 44648 of 45651
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I don't think so.

undefinedThe investigation into rate-fixing by Barclays revealed a widespread culture of pervasive, deceitful conduct in the setting of the most important private sector benchmark for over $300 trillion in derivative contracts and $10 trillion in adjustable-rate loans. It is highly unlikely that Barclays was the only major bank engaging in this conduct, and public investigations and private lawsuits are likely to reveal further misconduct in the months ahead.

A Flawed System

The basic structure for the setting of LIBOR is fundamentally flawed. It permits banks with obvious conflicts of interest to skew the LIBOR rate in order to benefit their own firm. Barclays, for

http://finance.yahoo.com/blogs/the-exchange/barr-time-e-lie-bor-234646443.html?l=1




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Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.




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