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The Lie in LIBOR: Seeds of a Cartel?

BY | November 28, 2012

Rodger Burnett, Lianne Craig, Gurpreet Gchhokar, Nov 28, 2012 LIBOR (London Inter-Bank Offered Rate) is one of the world’s most significant interest rate benchmarks used to set payments on financial…

Rodger Burnett, Lianne Craig, Gurpreet Gchhokar, Nov 28, 2012

LIBOR (London Inter-Bank Offered Rate) is one of the world’s most significant interest rate benchmarks used to set payments on financial transactions worldwide with a combined value running into the trillions of dollars. This summer the banking world was shocked by the news that LIBOR appeared to have been subject to prolonged and systemic manipulation by a number of the panel banks involved in the rate-setting process.

The LIBO

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