LIBOR: what do you know about this scandal?

[Truthmatters]

are you following it?

 

[Katzndogz]

Definition of 'London Interbank Offered Rate - LIBOR'
An interest rate at which banks can borrow funds, in marketable size, from other banks in the London interbank market. The LIBOR is fixed on a daily basis by the British Bankers' Association. The LIBOR is derived from a filtered average of the world's most creditworthy banks' interbank deposit rates for larger loans with maturities between overnight and one full year.

Read more: London Interbank Offered Rate (LIBOR) Definition | Investopedia

Does obama control London banks now?

 

[Truthmatters]

why would that be the question you would ask?


Are you following the story?

 

[Soggy in NOLA]

Well if you are, that's reason enough to dismiss it as complete stupidity.

 

[Rat in the Hat]

why would that be the question you would ask?


Are you following the story?

No.

Tell me in your own words why I should.

 

[Truthmatters]

that is one no , anyone else following it?

 

[Truthmatters]

Ok two nos

 

[Soggy in NOLA]

That's no's numbnutz.

 

[Rat in the Hat]

That's no's numbnutz.

She doesn't do apostrophes.

Or intelligence.

 

[CrusaderFrank]

LIBOR: what did Tim Geithner know about this scandal?

Apparently everything as it was occurring.

 

[CrusaderFrank]

LIBOR: Big Deal

Obama getting our Credit downgraded: not a big deal

Did you follow that?

 

[hortysir]

No.

Why?

What did your daily e-mail tell you to say about it?

 

[Truthmatters]

i was wondering about who was paying attention and where they came down on what happened

 

[Claudette]

Nope. Can't say I give a shit what they are doing in London.

 

[Conservative]

i was wondering about who was paying attention and where they came down on what happened

dumb ass threads like this are why your party is dying.

 

[Oddball]

i was wondering about who was paying attention and where they came down on what happened

dumb ass threads like this are why your party is dying.

Needs to put the knife down.

 

[Truthmatters]

so you dont care about people in the industry manipulating the markets?

 

[Truthmatters]

does this crime effect the US at all?

 

[Truthmatters]

Libor - Wikipedia, the free encyclopedia


its not as complicated as you might think



On Thursday, 29 May 2008, The Wall Street Journal (WSJ) released a controversial study suggesting that banks might have understated borrowing costs they reported for Libor during the 2008 credit crunch.[16] Such underreporting could have created an impression that banks could borrow from other banks more cheaply than they could in reality. It could also have made the banking system or specific contributing bank appear healthier than it was during the 2008 credit crunch.

For example, the study found that rates at which one major bank (Citigroup) "said it could borrow dollars for three months were about 0.87 percentage point lower than the rate calculated using default-insurance data."

To further bring this case to light, The Wall Street Journal reported in March 2011 that regulators were focusing on Bank of America Corp., Citi-group Inc. and UBS AG.[17] Making a case would be very difficult because determining the LIBOR rate does not occur on an open exchange. According to people familiar with the situation, subpoenas have been issued to the three banks.

 

[CrusaderFrank]

What did Geitner know, when did he know it and can he still blame Turbotax?