Power of Story
Send a Tweet        
- Advertisement -

Share on Google Plus Share on Twitter Share on Facebook 1 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend (1 Shares)  

Printer Friendly Page Save As Favorite View Favorites (# of views)   No comments

Update: A Huge Break in the LIBOR Banking Investigation | Matt Taibbi

Quicklink submitted By       Message Amanda Lang     Permalink
Related Topic(s): ; ; ; ; ; ; , Add Tags

View Ratings | Rate It

opednews.com

Author 5
Become a Fan
  (9 fans)
Image from a quicklink
Copyrighted Image? DMCA
This is a huge story: On Wednesday, Barclays won the race to reach a deal with U.S. and British regulators, beating UBS, which was reportedly the first bank to begin cooperating with international antitrust authorities. Barclays agreed to pay at least $450 million to resolve government investigations of manipulation of Libor and the Euro interbank offered rate (or Euribor): $200 million to the U.S. Commodity Futures Trading Commission, $160 million tothe criminal division of the U.S. Department of Justice and $92.8 million to Britain's Financial Services Authority.

I wrote about the Libor investigation in the current issue of Rolling Stone, in "The Scam Wall Street Learned From the Mafia," about muni bond bid-rigging. Throughout this spring, while the Carollo bid-rigging case played out in a Manhattan courtroom, negotiations between banks and regulators were going on...

Read the rest of the story HERE:

At www.rollingstone.com

- Advertisement -
- Advertisement -