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Old 10-02-2012, 04:56 PM
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stompk stompk is offline
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Default Re: LIBOR - An Explanation About The $800 Trillion Scam

A pair of GOP senators is pressing Treasury Secretary Timothy Geithner on his "complacency" over continued concerns about a key interest rate found to be manipulated by big banks.

Sens. Chuck Grassley (Iowa) and Mark Kirk (Ill.) accused Geithner of not informing the American public of problems with the London Interbank Offered Rate (Libor) and failing to find a replacement benchmark rate after it became clear the rate was being manipulated by the banks tapped to help set it.

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