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After being in banking and knowing that everything you say in writing is recorded, I'm amazed at how blatant these guys became in their outspokenness of committing illegal acts. I'm hoping in the near future we can have a president similar to Roosevelt that's willing to break up companies that are capable of single handedly taking down the economy.
http://www.washingtonpost.com/business/economy/2012/07/13/gJQAoZgwiW_story.html?tid=pm_business_pop
[h1]Libor rigging concerns surfaced in 2007[/h1]
Chris Ratcliffe/BLOOMBERG - Robert "Bob" Diamond, former chief executive officer of Barclays Plc, leaves Portcullis House in London, U.K., on Wednesday, July 4, 2012. Diamond, who gave evidence to the Treasury Select Committee today, resigned as chief executive officer after regulators fined the bank 290 million pounds ($453 million) for attempting to rig the London interbank offered rate (Libor). Photographer: Chris Ratcliffe/Bloomberg *** Local Caption *** Bob Diamond
[h3]By Zachary A. Goldfarb, Published: July 13[/h3]
[article=""]
Federal regulators had evidence that major banks could be manipulating one of the world’s most important interest rates a year before the practice came to an end, according to documents released by the Federal Reserve Bank of New York on Friday.
As early as 2007, the officials at the New York Fed suspected that this key rate, which serves as the basis for the interest rates that consumers pay on many loans, did not accurately reflect market forces, the documents show. Then, in April 2008, the New York Fed was explicitly warned by an employee of the British bank Barclays that it was participating in a ruse to “fit in with the rest of the crowd,
[/article]
http://www.washingtonpost.com/business/economy/2012/07/13/gJQAoZgwiW_story.html?tid=pm_business_pop
[h1]Libor rigging concerns surfaced in 2007[/h1]
Chris Ratcliffe/BLOOMBERG - Robert "Bob" Diamond, former chief executive officer of Barclays Plc, leaves Portcullis House in London, U.K., on Wednesday, July 4, 2012. Diamond, who gave evidence to the Treasury Select Committee today, resigned as chief executive officer after regulators fined the bank 290 million pounds ($453 million) for attempting to rig the London interbank offered rate (Libor). Photographer: Chris Ratcliffe/Bloomberg *** Local Caption *** Bob Diamond
[h3]By Zachary A. Goldfarb, Published: July 13[/h3]
[article=""]
Federal regulators had evidence that major banks could be manipulating one of the world’s most important interest rates a year before the practice came to an end, according to documents released by the Federal Reserve Bank of New York on Friday.
As early as 2007, the officials at the New York Fed suspected that this key rate, which serves as the basis for the interest rates that consumers pay on many loans, did not accurately reflect market forces, the documents show. Then, in April 2008, the New York Fed was explicitly warned by an employee of the British bank Barclays that it was participating in a ruse to “fit in with the rest of the crowd,
[/article]