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-   -   LIBOR rate fixing corruption etc etc (

dreampow 07-24-2012 11:41 PM

LIBOR rate fixing corruption etc etc
Interesting turn of events.

Just goes to illustrate how corrupt the financial world still is.

Interestingly its been barely visible in mainstream media here in Japan.

Seems to me its actually a huge scandal that is being swept under the rug.

Your thoughts gentlemen.

hktrdr 07-25-2012 04:51 AM

The LIBOR manipulation was very real, but the actual impact it has had on consumers is still unclear (although likely not very big).

The reporting on this has indeed been very weak. Mostly just very basic stuff without any detail of what actually happened. And, of course, plenty of bank-bashing polemic from people who have no idea what they are talking about (Matt Taibbi) or who really should know better (Spitzer, the professor in the Al Jazeera clip)...

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