LIBOR: what do you know about this scandal?

[Conservative]

It's Bush's fault.

Right?

 

[Truthmatters]

Its going to effect you wether you pay attention to it or not

 

[Rat in the Hat]

Its going to effect you wether you pay attention to it or not

Tell me how it is going to effect me in your own words, not a cut/paste answer.

 

[Truthmatters]

American lenders are right in the middle of it

 

[Rat in the Hat]

American lenders are right in the middle of it

That's nice. Still doesn't answer how it's going to effect me personally, but I expected that from you.

 

[Wry Catcher]

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

Thanks for offering proof that you and those who thanked you for this post are complete fools.

 

[hortysir]

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.

Just the fact that you know a drop of information about it is proof of that

 

[Wry Catcher]

American lenders are right in the middle of it

That's nice. Still doesn't answer how it's going to effect me personally, but I expected that from you.

If you were curous you would look into it.

 

[Uncensored2008]

Ok two nos

What's your fucking point, del?

Or do you have one?

 

[Truthmatters]

they dont seem to mind much when CEOs cheat the people.

but boy those poor people shouldnt cheat with their food stamps

 

[Uncensored2008]

they dont seem to mind much when CEOs cheat the people.

but boy those poor people shouldnt cheat with their food stamps

So British banks are "CEO's"

Is that your final answer, del?

 

[Wry Catcher]

Not one of the echo chamber who so loudly attack TM for this thread have offered anything of substance related to the issue. Calling her stupid, acting as if this issue is not one of importance and failing to understand/acknowledge that Banking is an international business are disgusting.

 

[hortysir]

Not one of the echo chamber who so loudly attack TM for this thread have offered anything of substance related to the issue. Calling her stupid, acting as if this issue is not one of importance and failing to understand/acknowledge that Banking is an international business are disgusting.

because it's her thread, her burden of proof and the only link she has provided is a Wiki link several posts later.

She asked a question and we answered it.

Though, she has failed in answering anyone else's questions.

Go kiss somebody else's ass

 

[CrusaderFrank]

Our 5 Texas properties are financed by a Low Floater so yeah maybe it cost us an extra $100/month on $20MM.

 

[Truthmatters]

burden of proof for what?

asking you what you thought?

 

[Mad Scientist]

Best coverage of the Libor Scandal is on zerohedge and Max Keiser.

 

[hortysir]

It damned sure isn't in this thread

 

[Truthmatters]

dudes I asked you what you know and though about this.


why all the hostility for me asking you ?

 

[hortysir]

I was hoping to gain a little knowledge, ya teaser, you


I don't know anymore now than I did before I clicked on this thread the first time

 

[Oddball]

I was hoping to gain a little knowledge, ya teaser, you


I don't know anymore now than I did before I clicked on this thread the first time

You need to put down the knife!