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- I thought MPs were pretty cosy with bankers. Maybe not as cosy as in the US, but enough to make them want to back off from going beyond softball questions. I would hope the BoE's comments on the affair might have more ultimate effect, unless it turns out that they were indeed instrumental, however mistakenly, in the debacle.
Funny how it has pushed the Leveson inquiry into the background. Can the public keep 2 scandals in their minds a the same time?Jul 10, 2012
- It is fairly amusing to read his articles and note that someone is finally pointing out some of the fairly important stupidity in the world to a general audience . . .Jul 11, 2012
- Yes someone else told me that the rates Bank's pay for short-term financing is available right on the Reuter's terminal, so the computer could have done the calculation all along. I guess the Fix is like a tradition and does give the banks some privilage and prestige.Jul 11, 2012
- A contingent question is whether the affected counterparties are now looking for an alternative basis? First to pop in mind would be sovereign curves, if they have significantly greater volume than the TBTFs (as I like to call the SIFIs) can manipulate.Jul 13, 2012
- So, do ALL Financial Institutions have the capability to manipulate LIBOR? Or is this only for the big (top 16?) guys and the smaller banks were as screwed as the hapless interest rate swap buyers?Jul 14, 2012