Libor Scandal Reaches United States

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The Libor rigging scandal that started at Barclay's in London has landed, in its most recent episode, at the Federal Reserve Bank of New York. Reports that Barclay's met with the New York Fed about Libor in 2007 and 2008 implicate then-president Timothy Geithner.

Nobody knows yet what those meetings were about, but the Treasury Secretary may now face grilling from some senators who want to know if this scandal was sanctioned by anyone in the United States, or if anybody knew about it. Mark Scott is a reporter for the DealBook Blog at The New York Times.