Debt Collectors On The Run, 1990s Libor Fraud, Tax Haven May Lose Its Status And More

Friday, July 27, 2012

Libor Fraud Happening In 1991: Trader

Tim Geithner claims he learned of Libor manipulation when the rest of us commoners did, in 2008. New evidence keeps coming out suggesting he should have known much, much earlier.

The latest example -- which puts the earliest time-stamp on Libor manipulation we've seen yet -- is a Financial Times op-ed by former Morgan Stanley trader Douglas Keenan. He claims that Libor, a key short-term bank lending rate that affects mortgages and other interest rates throughout the economy, was being jerked around for fun and profit as long ago as 1991.

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BLOG POSTS

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	Chris Brummer: London Is Better Off Reformed (LIBOR) Poor London. They may have the Olympics, but the recent LIBOR scandal appears to be strike three in a ballgame full of regulatory gaffes that have left the city's reputation for governance tarnished in the eyes of the world's financial elite.
	Alan Uke: A Mission to Self-Destruct: America's Culture of Imports In America, younger generations have been brought up in a culture of "free trade," where the pervasive attitude is that "industry doesn't matter." A culture of imports dominates.
	Art Markman, Ph.D.: Why Do Americans Accept Wealth Inequality? It is clear that many Americans who are not in wealthiest 20% support policies that maintain the inequality in the distribution of wealth. Why is that?
	James Dyson: London Olympics: Function and Form For the two weeks of the Olympics, London will be the most watched city in the world, seen by over a billion people. More than just an event for sporting achievement, the games are, for two weeks, a projection of London. But a look at the legacy of past games offers a cautionary tale that hosting the Olympics needs to be seen not just as a short-term event but a long-term investment. If China was the Olympics' golden darling, Britain is the austerity Olympics. The elaborate games in Beijing reflected a booming economy -- exports had grown a whopping 22%. The UK has taken a more modest approach: a reflection of a sobering market and steep cuts in government spending.