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The LIBOR Scandal -- And Why It's Important


Business  (tags: wall street, finance, ethics, cover-up, corruption, business, banking, wall street, libor, Kucinich )

Nancy
- 1976 days ago - opednews.com
What has emerged from the Barclay's Bank inquiry is evidence that banks may have in fact been deliberately manipulating Libor rates for years. The evidence so far is that one arm of a bank responding to the Libor poll would change their number based on...



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Comments

Past Member (0)
Friday July 13, 2012, 4:37 pm
Noted, thanks.
 

Dandelion G (367)
Friday July 13, 2012, 7:50 pm
This is another man who has always stood up for the average American and should of been President. But there was no way in the past election cycles that the Banksters, Wall St., and Multi-National Corporations were going to allow it, as they knew he'd call them out.

Dennis explains in simple terms what we are all learning over and over again, that we've all be screwed over and over again. Now maybe, once the politicians realize that they too are part of being scammed over by these "insiders" then maybe they just might set some real teeth into the regulations. Glass-Steagall never should of been taken off along with some other protections along the way, and we have both parties to thank for that.
 

Esther Z (94)
Friday July 13, 2012, 9:30 pm
Noted.
 

JL A (282)
Saturday July 14, 2012, 7:14 am
Dennis continues to epitomize what public service is supposed to be.
 

Susanne R (237)
Saturday July 14, 2012, 8:49 am
A "gentlemen's agreement"? More like a well thought out scam to me! Whatever happened to loan rates being determined by the prime lending rate and then adding 1% or a fraction thereof?

LIBOR does not have to answer to any regulatory agency, which is a big part of the problem, and there is an indisputable conflict of interest in that the rates agreed to under the terms of this "gentlemen's agreement" benefit no one but the bankers.

GREED has no borders, no conscience and evidently no oversight. Thanks for posting this very important article, Nancy!
 

. (1)
Saturday July 14, 2012, 9:35 am
Noted. Thank you Nancy.
 

Helen Porter (39)
Saturday July 14, 2012, 3:50 pm
noted

I wish we could eliminate money from the planet and we could be as bees in a bee hive. Every bee does it's alloted work and every bee has unlimited access to all the honey it needs.

However, it seems that the greatly feared Greeed of Humans has even invaded their hives so that the poor bees are dying.
 

Lois Jordan (63)
Saturday July 14, 2012, 5:57 pm
Noted & Much Thanks for posting, Nancy. My adult son asked me what LIBOR stood for--I told him: Largest International Bankster Oligarchy Ripoff. Dennis Kucinich has always been one of my heroes--I'd intended to vote for him in the '08 primary, but much to my dismay, he bowed out prior to our state primary.
 

Edith B (146)
Saturday July 14, 2012, 9:19 pm
I am so thankful we still have a few like Kucinich. I would vote for him as President if I ever had the opportunity. He has been scorned and pilloried by the press, but continues to state the truth.
 

patrica and edw jones (190)
Monday July 16, 2012, 8:10 pm
What a sad state of affairs - corruption, greed, malice aforethought - it is in the very air we breathe......and waiting Justice weeps.
 
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