LIBOR and the integrity of the City of London

Isn't the main issue from the LIBOR furore that senior people at Barclays (whom one would expect to know what they are talking about) believed that over a lengthy period other banks - perhaps the majority of other banks - were submitting LIBOR figures which were misleading and did not represent genuine transaction rates of those banks.

In effect Barclays are saying they believed the generally quoted LIBOR rates were fiction.

What does that say for the integrity of the City of London?

David

Comments
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Fit & Proper

bobhurn |

Not a lot!

ShirleyM |
ShirleyM's picture

the whole thing is a nonsense

carnmores |
carnmores's picture

Politicians in awe of the money men ...

JC |

@JC that really wont work and is unfair

carnmores |
carnmores's picture

Lots of things are unfair in life ...

JC |

oh that old canard about their working hours

carnmores |
carnmores's picture

explain ...

JC |

@jc...mansion tax is not a bad idea....

justsotax |

@davidwinch

thisistibi |
thisistibi's picture

SFO investigation

davidwinch |
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