Posts Tagged ‘LIBOR’

Interview on BBC Radio: $1.5B UBS LIBOR Manipulation Penaty

Interview on BBC Radio: $1.5B UBS LIBOR Manipulation Penaty

By The Banker | Audio Posts, Wall Street

I’ve linked here to Bankers Anonymous’ Worldwide Radio Debut today with the BBC’s “World Have Your Say,” in the wake of UBS’ reported $1.5Billion penalty for fixing LIBOR rates between 2005 and 2010.     http://www.bbc.co.uk/programmes/p011x4l8 The Bankers Anonymous portion of the show starts at minute 40:20, and goes until the end. I talk about [&hellip

UK's FSA Gets It, Barclays Traders Did Not

UK’s FSA Gets It, Barclays Traders Did Not

By The Banker | Blog Posts, Wall Street

It’s easy to pick on government regulators for not ‘getting it’ when it comes to finance, but I’m pleased to read the UK’s FSA report on Barclays’ actions and punishment related to LIBOR rigging.  The FSA gets it. The traders, on the other hand, do not get it, which is hard to fathom.  Everybody I [&hellip

What Is LIBOR Rigging?  Why Should You Care?

What Is LIBOR Rigging? Why Should You Care?

By The Banker | Blog Posts, Wall Street

What is LIBOR Rigging?  LIBOR, which stands for London Interbank Offered Rate, is defined as the average benchmark interest rate at which the world’s 16 most important money-center banks willingly lend money to one other for a period of time, with the most frequently quoted time periods being 1 day, 1 month, 3months, or 6 [&hellip

Diamond Out. AKA Blaming the Wrong Guy Again

Diamond Out. AKA Blaming the Wrong Guy Again

By The Banker | Blog Posts

We here at Bankers Anonymous love ex-bankers[1] so it makes sense to throw our two cents in to the discussion on the departure of Bob Diamond from the head of Barclays PLC this week. Journalists love to attach the word “scandal” to his departure, and indeed Barclays got hit last week by a combined $453 [&hellip