Wed Jun 27, 2012, 01:50 PM

Pure corruption: Barclays rigged the LIBOR rate for 4 straight years

The story's already been posted but I wanted to point out how thoroughly corrupted the financial system is and how it is all being exposed. Last week, Matt Taibbi was telling people about municipal bond auctions being rigged in all 50 states and now it's exposed that the LIBOR rate has been rigged for years.

These are HUGE stories, this kind of bank corruption is why we the people, the 99%, are being screwed around the world.

4 replies, 716 views

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4 replies	Author	Time	Post
Pure corruption: Barclays rigged the LIBOR rate for 4 straight years (Original post)	just1voice	Jun 2012	OP
Republican translation:	Turbineguy	Jun 2012	#1
K&R	drm604	Jun 2012	#2
kr	HiPointDem	Jun 2012	#3
That takes my breath away...	nadinbrzezinski	Jun 2012	#4

Response to just1voice (Original post)

Wed Jun 27, 2012, 02:08 PM

Turbineguy (16,528 posts)

1. Republican translation:

"Free Markets".

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Response to just1voice (Original post)

Wed Jun 27, 2012, 03:03 PM

nadinbrzezinski (120,124 posts)

4. That takes my breath away...

and NOBODY noticed?

Oh wait, I am sure some did...

By the way... may I sugest EXPLAINING what the rate does? Most folks actually are not literate enough on it,.

Here the Wiki entry

http://en.wikipedia.org/wiki/Libor

(Yes it matters, A LOT)

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Pure corruption: Barclays rigged the LIBOR rate for 4 straight years

1. Republican translation:

2. K&R

3. kr

4. That takes my breath away...