LIBOR

Ben Protess made an interesting comparison today in a DealBook article on the rise of CFTC Chief Gary Gensler and the agency's successful work on the LIBOR rate fixing scandal:  It is a new role for the agency, the industry’s smallest regulator. For years, it was viewed as the Rodney...
08/15/2012
Blog
Ben Protess made an interesting comparison today in a DealBook article on the rise of CFTC Chief Gary Gensler and the agency's successful work on the LIBOR rate fixing scandal:  It is a new role for the agency, the industry’s smallest regulator. For years, it was viewed as the Rodney...
08/15/2012
Blog
Cynics on the left and anti-government ideologues on the right often pound on legislators and bureaucrats for being ineffectual, biased and generally useless. But every so often a real hero emerges that refutes the dangerous and widespread belief that government does not work. Gary Gensler,...
08/13/2012
Blog
If you are aware of some of the specific derivatives and securities that are traded by banks and other financial services firms, you know that actual transactions in many of them occur infrequently. Prices based on what a willing buyer would pay a willing seller are difficult to come by. Let’...
07/20/2012
Blog
What does the acronym, “LIBOR,” stand for? The “London Inter-bank Offered Rate.” What does LIBOR represent? LIBOR is promoted as representing the average interest rate that large banks can borrow from one another. LIBOR is not the interest rate on any single loan. Rather it is an index intended to...
07/17/2012
Publication
So far, as a result of the LIBOR scandal -- in which Barclays manipulated the all-important London Inter-bank Offered Rate, which governs hundreds of trillions of dollars of loans, securities and derivatives -- the bank has been fined over $450 million by regulators and its CEO and COO have...
07/10/2012
Blog
The LIBOR-fixing scandal that has engulfed Barclays and prompted investigation of Citigroup, Royal Bank of Scotland, HSBC, UBS, Lloyds, Deutsche Bank, ICAP (the huge broker for traders) and possibly others has been down-played by some experts and induced outrage from others. More fines like the $...
07/08/2012
Blog
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