Libor Reported As Rigged In ’08 Proving 2012’S Revelation

 

Barclays Plc’s admission that it rigged the London interbank offered rate shows regulators, central bankers and politicians weren’t paying attention when everyone from Citigroup Inc. to the Bank for International Settlements indicated that the measure was being manipulated.

The BIS signaled in March 2008 that the benchmark was being misstated. A month later, analysts at Citigroup suggested the same. In May of that year, one of Barclays’s own strategists said the numbers reported by banks “were a lie.”

View More 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s