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Libor Fixing

Iceland Has Jailed 29 Bankers. Why Can't the UK and US Do the Same?

Stefan Simanowitz | Posted 01.05.2017 | World
Stefan Simanowitz

Just before Christmas, the former CEO of Iceland's Glitnir bank and two other senior bankers were sentenced to jail terms of up to five years for market manipulation and breach of fiduciary duties.

Freddie Mac Sues Banks Over Libor Losses

Reuters | Posted 03.19.2013 | Business

NEW YORK (Reuters) - Mortgage finance company Freddie Mac is suing more than a dozen banks for losses from the alleged manipulation of the benchmark ...

Mark Gongloff

Gold: The Next Libor Scandal? | Mark Gongloff | Posted 03.14.2013 | Business

The Libor scandal is so 2012 you guys, so so boring, but thank goodness we have a brand new market-rigging scandal to enjoy now, one that will enterta...

Bankers' Rigging Cost Desperate Cities, States BILLIONS

The Huffington Post | Mark Gongloff | Posted 10.09.2012 | Business

If you think Libor fraud is a victimless crime, the muni-bond market has 6 billion reasons it begs to differ. States, cities and other municipal bo...

It's Not Just Libor That's Getting Rigged

Reuters | Posted 12.05.2012 | Business

* Trader Chong Wen Kuang suspended earlier in year - source * Suspension broadens scope of Libor investigation * RBS sai...

Libor Rate To Finally Get Overhaul

The Huffington Post | Jillian Berman | Posted 09.28.2012 | Business

Mark Gongloff is off the newsletter this morning, so today's 7.5 Things are brought to you by Jillian Berman. Thing One: It's About Time: British o...

Libor Fraud Is Hilarious, Traders Say

The Huffington Post | Mark Gongloff | Posted 09.26.2012 | Business

Libor is a joke. Don't get me wrong, the London Interbank Offered Rate, or Libor, is deadly serious business, affecting $350 trillion in derivative...

TARP Watchdog Wants Libor Completely Out Of Bank Bailouts

The Huffington Post | Mark Gongloff | Posted 09.25.2012 | Business

The Treasury Department's bailout watchdog wants to stop using the flawed Libor rate in setting the terms of bank bailouts. Too bad she wasn't arou...

Major U.S. Regulator On Libor: 'It Is Time For A New Or Revised Benchmark'

Reuters | Posted 11.24.2012 | Business

* U.S. derivatives watchdog says change or drop benchmark * CFTC head urges use of real rates, not estimates for benchmark ...

'We Want More'

Reuters | Posted 11.24.2012 | Business

* EU regulation and antitrust chiefs to appear in parliament * U.S. derivatives regulator Gensler also to testify * IOSC...

Secret Survey Reveals Rate Manipulation Is Widespread

The Huffington Post | Mark Gongloff | Posted 09.20.2012 | Business

Interest rates all over the world are mostly made up. That's the verdict of a new study by the International Organization of Securities Commissions...

Central Bankers Won't Solve Huge Financial Scandal In One Weekend, Official Says

Reuters | Posted 11.07.2012 | Business

* Basel talks to start looking at Libor after rigging scandal * Carney says decisions will have to await Wheatley report ...

Libor Scandal's Potential Costs Quietly Exploding

The Huffington Post | Mark Gongloff | Posted 08.27.2012 | Business

Funny thing about the Libor scandal: Even when there doesn't seem to be a lot going on, the cost to banks just keeps on rising. The latest estimate...

Ex-RBS Trader: 'Anyone Can Change Libor'

Reuters | Posted 10.23.2012 | Business

By Rachel Armstrong SINGAPORE, Aug 23 (Reuters) - A former dealer for the Royal Bank of Scotland Group PLC has provided fresh details...

WATCH: Reich Says Libor Scandal Shows How Easily Banks Can Cheat

Posted 08.22.2012 | Business

The Libor scandal is just another example of why big banks need to be broken up, according to Robert Reich. In an appearance on HuffPost Live Wedn...

Libor Fraud Happening In 1991: Trader

Mark Gongloff | Posted 09.26.2012 | Business
Mark Gongloff

Tim Geithner claims he learned of Libor manipulation when the rest of us commoners did, in 2008. New evidence keeps coming out suggesting he should have known much, much earlier.

Tim Geithner Admits Banks Bailed Out With Rigged Libor, Costing Taxpayers Huge Amount

Mark Gongloff | Posted 09.24.2012 | Business
Mark Gongloff

The government knowingly used an artificially low interest rate when setting bailout terms for big banks and insurance giant AIG, costing taxpayers millions, maybe billions.

Deutsche Bank's Internal Libor Investigation Finds Deutsche Bank Mostly Innocent

Mark Gongloff | Posted 09.23.2012 | Business
Mark Gongloff

Great news, you guys. We can go ahead and scratch at least one bank off the list of egregious interest-rate manipulators. That's because this bank has...

Watchdog: It Would Have Been Too Expensive To Try And Spot Rate-Rigging

Reuters | Posted 09.23.2012 | Business

LONDON, July 24 (Reuters) - Trying to spot whether the Libor interest rate was being manipulated by tiny amounts would be "prohibitively expensive" ...

Citigroup Could Be Poster-Child For U.S. Libor Manipulation

Mark Gongloff | Posted 09.19.2012 | Business
Mark Gongloff

So far Barclays has been the sad, British face of the Libor scandal, but there could soon come a day when an American bank could be the poster child for Libor manipulation.

Mark Gongloff

Libor Scandal's Cost To Banks Swells | Mark Gongloff | Posted 07.17.2012 | Business

The Libor scandal gets more expensive for the banking sector almost by the day. Banks may end up paying $35 billion in civil damages for manipulati...

Barclays Chairman: Larger Libor Investigation Will Put Our Role 'In Perspective'

Posted 07.16.2012 | Business

Barclays officials wants you to know: They weren't the only bank rigging the Libor rate, thank you very much. Marcus Agius, the chairman of Barcla...

U.S. States Probing Banks Over Rate-Rigging Scandal

Reuters | Posted 09.14.2012 | Business

By Karen Freifeld NEW YORK, July 15 (Reuters) - New York Attorney General Eric Schneiderman has launched a probe into possible manipul...

U.S. Banks Could Be Hit Hard By Rate-Rigging Scandal

Reuters | Posted 09.12.2012 | Business

* Suits harder and costlier to win in Britain * 2010 U.S. Supreme Court ruling crimped legal tourism By Chris Vellacott ...

Banks Rigging Key Interest Rate For Decades: Report

The Huffington Post | Bonnie Kavoussi | Posted 07.10.2012 | Business

Though the Libor scandal is just breaking now, some financial insiders claim that Wall Street's been fiddling with the key interest rate for decades. ...