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Friday
Jul132012

LIBOR Rate Rigging

DateFriday, July 13, 2012 at 5:00AM

I did not watch all of this video because I am mobile this week, and mobile data rates are pricey. 

But I saw enough of it to want to blog about it. If something as basic as the LIBOR bank rate is fraudulent, as is shown in this video, then everything is fraudulent. It will get to the point where markets will break down because no one can trust anyone else. 

The LIBOR bank rate is a base rate that is used to estimate interest rates, and many contracts use the rate to determine that rate of interest in the contract. Fraud at such a basic level is extremely disturbing. 

Author[Positive Dennis] | CommentPost a Comment |
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