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Libor

UBS To Pay $1.5 Billion To Settle Libor Charges

Reuters | Katharina Bart and Tom Miles | Posted 01.23.2014 | Business

ZURICH Dec 19 (Reuters) - Swiss bank UBS was hit with a $1.5 billion bill and admitted to fraud on Wednesday in order to settle charges of manipulat...

Birther Queen Blames Obama For Sandy Hook Massacre

The Huffington Post | John Celock | Posted 12.18.2012 | Politics

Birther queen Orly Taitz blames President Barack Obama for the Sandy Hook school massacre, saying the president is "trying to show that some person ca...

UBS Unit Reportedly Close To Guilty Plea In Libor Scandal

Dealbook | BEN PROTESS AND MARK SCOTT | Posted 12.13.2012 | Business

Federal prosecutors are close to securing a guilty plea from a UBS subsidiary at the center of a global investigation into interest rate manipulation,...

More Bad News For UBS

Reuters | Posted 02.12.2013 | Business

(Replaces ninth paragraph to give detail on sum set aside for litigation, regulatory and similar matters, replacing detail on a broader measure of r...

People Were Actually Arrested For Allegedly Participating In A Major Financial Scandal

Reuters | Posted 02.10.2013 | Business

* All three suspects released on bail * Former Citi/UBS trader Thomas Hayes among arrested-source * Other two are former...

The Libor Scandal Claims Its Latest Victim

Reuters | Posted 02.02.2013 | Business

* Settlement of rate rigging claims possible by yr-end * UBS says cooperating fully with investigations * UK rival Barcl...

'This Was A Real Cover-Up'

Reuters | Posted 01.28.2013 | Business

* Deutsche Bank regulatory chief faces questions at Berlin hearing * Deutsche Bank has made provisions for Libor probe - board member...

Rethinking the Fight Against Corruption

Daniel_Kaufmann | Posted 01.28.2013 | World
Daniel_Kaufmann

Merely adopting a new anti-corruption law, creating another commission, or launching another 'campaign' will not get the job done. We can no longer fight corruption by simply fighting corruption alone.

Bank Could Get Fined Twice For Libor Rigging

Reuters | Posted 11.25.2012 | Business

LONDON (Reuters) - Royal Bank of Scotland is facing the increasing likelihood of having to settle separately with the UK and U.S. authorities investig...

It's So Easy To Rig Markets These Days

The Huffington Post | Mark Gongloff | Posted 11.13.2012 | Business

And now it's time for another installment in our continuing series, Manipulating Markets Is Easy. What have traders gone and manipulated this time? Th...

WATCH: Barclays Banker Threatens To Burn Someone's 'F**king House Down,' Gets Fired

The Huffington Post | Harry Bradford | Posted 11.09.2012 | Business

Being a banker can be a stressful gig, but that doesn't really give anyone the right to start tossing sheet metal at people. Olivier Desbarres, wa...

See You In Court, Barclays

Reuters | Posted 12.29.2012 | Business

* Guardian Care Homes says wrongly sold interest rate swaps * Judge rules Libor/mis-selling case must go to trial * Barc...

MORE Banks Subpoenaed Over Libor

Wall Street Journal | Reed Albergotti and Jean Eaglesham | Posted 10.26.2012 | Business

Nine more banks have received subpoenas in connection with a probe into alleged widespread interest-rate manipulation by banks, a person familiar with...

Tim Geithner Knows Libor Is Useless, Fine With That

Mark Gongloff | Posted 12.25.2012 | Business
Mark Gongloff

It's a good thing we have all decided not to care about the Libor scandal, or Tim Geithner might be looking kind of silly right now.

Foreclosure Victim Sues Big Banks Over Libor Manipulation

The Huffington Post | Bonnie Kavoussi | Posted 10.15.2012 | Business

The enormous Libor scandal may have found the face of its victims. Annie Bell Adams, a pensioner who lost her home to foreclosure, and four other ...

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...

Geithner Slammed Over Libor

Reuters | Posted 12.02.2012 | Business

* Geithner knew Libor issues in 2008 * U.S. agencies already investigating banks and Libor By Sarah N. Lynch and Alexand...

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...

Libor Justice Painfully, Predictably Slow

The Huffington Post | Mark Gongloff | Posted 09.20.2012 | Business

Thing One: Prosecutin' Is Hard: Willie Sutton apocryphally said that he robbed banks because that's where the money was. But if you really want to cri...

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 ...

Banker: I Warned Of Libor Fraud In 1996

Mark Gongloff | Posted 11.04.2012 | Business
Mark Gongloff

We just keep learning new ways that everybody on earth, aside from Tim Geithner, knew of the risk of Libor manipulation years and years ago.