LIBOR

Corruption of Libor, pffft.. What? I need to pay $1,000 more a month?

This article by Reuters via CNBC, ‘Done… For You Big Boy’ – How Emails Nailed Barclays, blows open how partial the process is for a bank to influence the London Interbank Offered Rate. To summarise, in-house AND external traders, through direct contact with Barclay’s Libor submitters, influenced them to set rates at requested levels. From BBA Libor – The … Continue reading →