Streams

 

 

Libor

The Leonard Lopate Show

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.

Comments [18]

The Brian Lehrer Show

UBS Admits to Fraud

Thursday, December 20, 2012

UBS has pled guilty to manipulating global interest rates, and will pay $1.5billion in fines. Liam Vaughan, Bloomberg UK finance reporter, discusses the case and the implications for financial regulation.

Comments [5]

Money Talking

Money Talking: Top Business Stories of 2012

Friday, December 14, 2012

Ever since the presidential election, the business press has been consumed with the negotiations in Washington to avoid the December 31st fiscal cliff. 

Comments [1]

The Takeaway

Eliot Spitzer on State Attorneys General Libor Investigations

Thursday, August 23, 2012

The Libor scandal hasn't gone away — it's only getting bigger. New York State attorney general Eric Schneiderman has subpoenaed several of the world's leading banks, including Barclays, for possible manipulation of interest rates. Connecticut's attorney general has also joined the investigation.

Comments [2]

The Takeaway

Have Financial Markets Polluted Our Moral Code?

Thursday, August 16, 2012

Banking scandals have dominated the headlines this summer. Now Michael Sandel, professor of political philosophy at Harvard University, is arguing that market-driven thinking has corrupted our moral code — not just on Wall Street, but in our everyday interactions.

Comments [5]

WNYC News

7 Banks Get Subpoenas Over Libor Scandal

Wednesday, August 15, 2012

WNYC

New York State is looking more closely into the alleged role banks played in rigging the interbank lending rate known as Libor.

Comment

The Leonard Lopate Show

Backstory: Understanding Libor

Thursday, July 26, 2012

Treasury Secretary Timothy Geithner told Congress yesterday that he warned UK officials about problems with the LIBOR interbank lending rate as early as four years ago. ProPublica’s Cora Currier joins us to explain the ongoing LIBOR scandal.

Comments [1]

The Takeaway

Geithner Testifies Before Congress

Thursday, July 26, 2012

In 2008, then president of the New York Federal Reserve Timothy Geithner noticed something might be wrong with Libor. So he took the strongest possible action he could think of: He sent a memo.

Comments [2]

The Brian Lehrer Show

Washington Grills the Banks

Thursday, July 26, 2012

Yesterday in Washington, lawmakers from both sides of the aisle were talking about the structure and behavior of big banks. Tim Geithner offered testimony about the LIBOR rate-fixing scandal. And comments by a former Citigroup CEO led to buzz about the return of Glass-Steagall, which prevented banks from getting too big. Wall Street Journal economic policy reporter Damian Paletta discusses the latest.

Comments [36]

The Brian Lehrer Show

Will the LIBOR Scandal Lead to Arrests?

Wednesday, July 25, 2012

Matthew Goldstein, editor in charge of Wall Street Investigations for Reuters, discusses his reporting on possible arrests in London and in New York City over the LIBOR rate-fixing scandal.

Comments [5]

WNYC News

Banks Could Owe $35B Over Alleged LIBOR Rate Rigging: Report

Monday, July 23, 2012

Treasury Secretary Timothy Geithner will testify before Congress this week. He’s expected to be asked about the LIBOR scandal. It comes at a time when a new report indicates banks from around the globe, including some U.S.-based banks, could be on the hook for billions of dollars over the LIBOR rate rigging.

Comments [2]

WNYC News

Explainer: What Is LIBOR?

Tuesday, July 17, 2012

The recent admission by Barclays Bank that it manipulated a key interest rate, the LIBOR or London Interbank Offered Rate, has raised questions about how state and local government finances have been affected in the U.S.

Comments [1]

It's A Free Blog

Opinion: Post-Libor, Romney and Obama Need a Plan to Fix Banking

Monday, July 16, 2012

This is bigger than Obamacare. It's much more significant than Romney continuing as CEO of Bain after 1999. It has a far greater impact on every American this election year than any other issue the candidates have been discussing or will address in presidential debates this fall.

Read More

Comments [2]

The Takeaway

Are Banks Too Big to Prosecute?

Monday, July 16, 2012

The Justice Department is said to be preparing cases against financial institutions in response to the Libor scandal, but Barclays has signed a non-prosecution agreement and is paying a penalty of $450 million – not much for a company with over $50 billion in revenue last year. 

Comments [1]

The Takeaway

JPMorgan and Wells Fargo Release Earnings Reports

Friday, July 13, 2012

It has been a tumultuous year for big banks, and today is turning out to be no different. JPMorgan and Wells Fargo released their earnings reports today.

Comments [2]

Money Talking

Money Talking: Could Dodd-Frank Prevent Another Financial Crisis?

Friday, July 13, 2012

July 21 marks the two-year anniversary of the Dodd-Frank financial reform law, but the vast majority of the rules have yet to be finalized.

Comment

The Takeaway

Why Americans Are Unfazed by Corporate Corruption

Thursday, July 12, 2012

There was once a time when the bank was a respected institution. But in 2007, only two in five Americans trusted in banks. Now, just five years later, the number has dipped even lower. 

Comments [1]

The Takeaway

How Libor Affects Main Street

Thursday, July 12, 2012

The Libor manipulation scandal has dominated the news with stories of a culture of corporate greed and bankers who don't know right from wrong. But why should we care about a few London traders who fudged the numbers?

Comments [1]

The Takeaway

Libor Scandal Reaches United States

Wednesday, July 11, 2012

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 more.

Comment

The Brian Lehrer Show

Joe Nocera Explains LIBOR

Tuesday, July 10, 2012

The New York Times op-ed columnist Joe Nocera explains the London InterBank Offered Rate (LIBOR) index in the context of the allegations that Barclays manipulated that key rate benchmark.

Comments [21]