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The Professor’s lecture on the LIBOR scandal…. You might have missed the latest bank scandal, the one involving Barclays Plc (BARC), in the hubbub of last week’s U.S. health-care ruling and euro salvage plan. If so, allow us to fill you in: On June 27, Barclays, the U.K.’s second-largest bank by assets, admitted it deliberately reported artificial borrowing costs from 2005 to 2009. The false reports were used to set a benchmark rate, the London interbank offered rate, or Libor, which affects the value of trillions of dollars of derivatives contracts, mortgages and consumer loans. The bank agreed to pay a hefty $455 million to settle charges with U.S. and U.K. regulators, and on Monday its chairman resigned. Source: Bloomberg futuramagifs: Made By http://encyclopherb.tumblr.com/ . For Daily Futurama GIF’s Go To http://futuramagifs.tumblr.com/ .

The Professor’s lecture on the LIBOR scandal….

You might have missed the latest bank scandal, the one involving Barclays Plc (BARC), in the hubbub of last week’s U.S. health-care ruling and euro salvage plan.

If so, allow us to fill you in: On June 27, Barclays, the U.K.’s second-largest bank by assets, admitted it deliberately reported artificial borrowing costs from 2005 to 2009. The false reports were used to set a benchmark rate, the London interbank offered rate, or Libor, which affects the value of trillions of dollars of derivatives contracts, mortgages and consumer loans. The bank agreed to pay a hefty $455 million to settle charges with U.S. and U.K. regulators, and on Monday its chairman resigned.

Source: Bloomberg

futuramagifs:

Made By http://encyclopherb.tumblr.com/ .

For Daily Futurama GIF’s Go To http://futuramagifs.tumblr.com/ .

(Source: barf-time)

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    The Professor’s lecture on the LIBOR scandal…. You might have missed the latest bank scandal, the one involving Barclays...
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