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JDPriestly

(57,936 posts)

9. But if they were colluding to lower their rates, didn't that lower the rates of consumers

Reply to lovuian (Original post)

Wed Jul 4, 2012, 11:52 AM

Jul 2012

also? Isn't it the pension funds and small savers who lost?

Wouldn't the artificial lowering of the cost of borrowing to banks have lowered the cost of borrowing to those to whom the banks loaned money?

Or did the banks pocket all of the gains made from lower LIBOR rates to them?

Did the banks maintain high interest rates to their borrowers while colluding to lower the LIBOR rates?

The article does not elaborate from what I could tell.

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23 replies

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Highlight:

Barclays bank didn’t just scam other financial giants [View all] lovuian Jul 2012 OP

K&R. nt OnyxCollie Jul 2012 #1

There is going to a huge number of law$uit$ over this with Barclays being on the wrong end. n/t PoliticAverse Jul 2012 #2

LIFE IMPRISONMENT for the ALL the bankster scum, not just civil suits, nail their arse to the wall stockholmer Jul 2012 #3

Not only do they create the virus. They profit from the cure. raouldukelives Jul 2012 #12

knr Coexist Jul 2012 #4

That Chairman was going to host a bg LONDON fundraiser for MitWit elehhhhna Jul 2012 #5

The CEO Bob Diamond malaise Jul 2012 #6

Is that legal arikara Jul 2012 #13

Diamond is a US citizen. Location doesn't matter as long as donations are from US persons FarCenter Jul 2012 #17

He's US/British citizen, but I think it is still OK. I'm pretty sure US/Israeli citizens contribute FarCenter Jul 2012 #20

I think that they conspired to make the LIBOR lower creeksneakers2 Jul 2012 #7

I'd misread what you said dipsydoodle Jul 2012 #8

Just like the Fed, the Bank of England wanted lower rates to lessen the impact of the crisis FarCenter Jul 2012 #10

Yes - what you said. nt Lucky Luciano Jul 2012 #15

But if they were colluding to lower their rates, didn't that lower the rates of consumers JDPriestly Jul 2012 #9

It had happened in both directions dipsydoodle Jul 2012 #11

no more virgins, we need to toss the top rung of the banksters into a volcano caldera. pansypoo53219 Jul 2012 #14

Maybe the Barclay's Premier League will go back to its original title of... Crowman1979 Jul 2012 #16

State and Local Gov't got hit ,too dtom67 Jul 2012 #18

Barclays also received TARP money from AIG suffragette Jul 2012 #19

Were the funds from AIG into Barclays dipsydoodle Jul 2012 #22

What I've read is "securities lending" suffragette Jul 2012 #23

"Victims" needs defining dipsydoodle Jul 2012 #21