When bankers lie

San Francisco investigates LIBOR fraud and its possible impact on city finances

|
(3)

By Darwin BondGraham

news@sfbg.com

Although few have ever heard of it, there's probably no number more important to the global financial system than the London Interbank Offered Rate, or LIBOR. Defined precisely, LIBOR is a set of different interest rates that the world's largest banks charge one another for cash loans denominated in US dollars.

Comments

... it just doesn't seem right.

Why not leave the fiscal prudency to the Moderates and their nice banker friends?

Posted by blip in sail cull on Feb. 15, 2013 @ 1:45 am

Commercial borrowers looking to reduce or eliminate undisclosed bank fees in an interest rate swap should contact Swap Negotiators at http://swapnegotiators.com.

Posted by Maureen McHale on Mar. 14, 2013 @ 10:09 am

The problem is that some municipalities like Oakland made some bad IR bets and now they want to be bailed out of them.

No way.

Posted by anon on Mar. 14, 2013 @ 10:30 am