The rotten heart of finance

The rotten heart of financeA scandal over key interest rates is about to go global THE most memorable incidents in earth-changing events are sometimes the most banal. In the rapidly spreading scandal of LIBOR (the London inter-bank offered rate) it is the very everydayness with which bank traders set about manipulating the most important figure in finance. They joked, or offered small favours. “Co

[paravola]

A scandal over key interest rates is about to go global

[fujikumo]

銀行間金利のLIBORが操作されていた不正行為について。トレイダーがいじっていた金利の数字は、全世界の人々や企業がローンを払ったり、貯金の金利を払われたりしたもので。800兆円規模の金融商品に利用されてきた。

[Gomadintime]

こんなすごい話だったのか。