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HomeLibor Scandal: Bloomberg Echoes Sense on Cents Call
Posted by Larry Doyle on December 19th, 2012 1:59 PM |
I have maintained literally from the outset that the manipulation and rigging of Libor and other benchmark interest rates could not have occurred without the knowledge and blessing of senior executives within the banks.
We read today that senior executives at UBS were very much aware of the collusive practices that went on for years. The question now begs what will happen from here. Will selected executives who may have left the firm voluntarily or otherwise be allowed protective cover? Remember, justice neglected is justice denied. (more…)
Libor Scandal: Trader Highlights Manipulation in 1991
Posted by Larry Doyle on July 27th, 2012 10:03 AM |
I have posed that question often over the course of the last month. E-mails emanating from Barclays point to manipulation of Libor back in 2005.
The industry and regulators would clearly like to keep the focus of this scandal to the crisis period of 2008. Why is that? The excuse of, “We were trying to save the system” would seem to provide a very wide cover for all parties involved. But, again I ask, when did it really begin? (more…)
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Posted in General, Libor | 1 Comment »