LIBOR rate fixing corruption etc etc - Snowboarding Forum

dreampow · 07-24-2012, 11:41 PM

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)...

07-24-2012, 11:41 PM	#1 (permalink)
dreampow Veteran Member Join Date: Sep 2011 Location: Kyoto Japan Posts: 1,055	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.

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07-25-2012, 04:51 AM	#2 (permalink)
hktrdr Veteran Member Join Date: Apr 2012 Posts: 1,151	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)...