Friday, July 6, 2012

John Carney — Libor Rates: A Readers Guide


Clear short summary of a complicated topic.

Read it at CNBC | NetNet
Libor Rates: A Readers Guide
by John Carney | Senior Editor

6 comments:

Anonymous said...
This comment has been removed by the author.
Anonymous said...

What puzzles me about this Libor business is that the whole thing seems like some ridiculous self-regulated honor system to begin with. Since the rules don't ask the banks to submit statements about actual borrowings, but only to propose the answer to a counterfactual about hypothetical borrowings, there is no confirmable sense in which the submission can be wrong, or a clear lie.

Tom Hickey said...

Winterspeak says craziness.

Why LIBOR?

Unforgiven said...

... because here at Barclay's Bank we believe in putting the Lie in LIBOR.

Matt Franko said...

HUGE civil liabilities imo... look for Congress to get legislation going soon indemnifying all US banks from civil lawsuits...

rsp

Matt Franko said...

Dan,

I thought is was the "bond vigilantes" in the "free market" that set interest rates???

Uh oh!

rsp