Matt Taibbi on Manipulation of the Swap Market
Thursday, April 25, 2013
Matt Taibbi talks about the manipulation of the swaps market. The Commodity Futures Trading Commission recently subpoenaed brokers at the interdealer broker ICAP and bankers at 15 Wall Street institutions to find out if they colluded to manipulate the ISDAfix rate. ISDAFix impacts global borrowing costs as well as the price of $379 trillion interest-rate swaps, and other important benchmarks in the wake of the Libor rigging scandal.