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The NY Fed reportedly suspected as early as May 2008 that banks were manipulating Libor rates to...

The NY Fed reportedly suspected as early as May 2008 that banks were manipulating Libor rates to boost their trading profits, undisclosed internal emails show. Among the recipients of the emails was the then head of the NY Fed, Timothy Geithner. Previously published emails indicate that at the time, regulators suspected that banks were rigging rates to hide the state of their financial health.
Comments (1)
  • I think of the $700 trillion "jobs producing" derivatives market as one giant monopoly game super banks play amongst themselves then report profits and losses recorded each quarter
    19 Dec 2012, 07:19 AM Reply Like
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