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Thu Oct 4, 2012, 09:56 PM

Libor Gets Religion

October 4, 2012, 4:20 PM
By Michael J. Casey

The idea of your local priest peppering his Sunday sermon with references to “the London Interbank Offered Rate” might sound far-fetched, but you may want to be prepared for it.

The Libor scandal has entered the religious realm.

In fact, a multi-faith coalition of activist organizations doesn’t want to stop there. According to a statement Thursday, it believes average Americans are being deprived in their television news of coverage of the sweeping story of how banks allegedly rigged a benchmark interest rate that’s used to price everything from student loans and adjustable-rate mortgages to money market funds, credit cards and business credit lines.

The group, Jubilee USA Network, specifically accuses ABC World News and NBC Nightly News of having a “blackout” on coverage of a “scandal that affects everyday Americans and the most vulnerable in our world.”

http://blogs.wsj.com/deals/2012/10/04/libor-gets-religion/

http://www.jubileeusa.org/home.html

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Reply Libor Gets Religion (Original post)
rug Oct 2012 OP
tama Oct 2012 #1
rug Oct 2012 #2
tama Oct 2012 #4
Jim__ Oct 2012 #3

Response to rug (Original post)

Sat Oct 6, 2012, 07:11 AM

1. Wiki:

 

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

Interest rate of interbank lending, manipulated and understated by bankster conspiracy.

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Response to tama (Reply #1)

Sat Oct 6, 2012, 09:20 AM

2. Thanks for that.

I wasn't aware of the scope of this. What's happening in Greece and Spain does not happen in a vacuum. Sometimes I wonder if all the attention on Romney's horse, Obama's birth certificate and Ohio's polls is just a shiny diversion.

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Response to rug (Reply #2)

Sat Oct 6, 2012, 11:28 AM

4. Layers upon layers of diversions

 

I consider elections just diversions from the issues, spectacles of divide and conquer.

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Response to rug (Original post)

Sat Oct 6, 2012, 10:09 AM

3. Imagine our TV news programs actually covering the news again.

Maybe if enough people complain about the news programs, we'd get some real news.

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