Seeking Alpha

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)
  • june1234
    , contributor
    Comments (3225) | Send Message
     
    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
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs