LIBOR Scandal event
also: LIBOR, library rigging, rigging LIBOR
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Claims (2)
Tom Hayes carried_out_attack
LIBOR Scandal documented
“He gets on the phone with a bunch of his cronies of traders all around the company. And instead of betting on which way LIBOR is going to go, that's the London Interbank Offering Rate, which a lot of major interest rates are set upon on a d…”
▶ The Shadow State 50 UBS - King of the Swiss Banks @ 57:45
UBS paid
LIBOR Scandal documented
“It's also screwing other people out because we're not getting an honest interest rate. You know, here a lot of mortgage rates around the world are set on LIBOR. So in 2012, global regulators exposed this scheme and UBS ends up paying a $1.5…”
▶ The Shadow State 50 UBS - King of the Swiss Banks @ 58:13
Mentions (3)
▶ 57:45
He gets on the phone with a bunch of his cronies of traders all around the company. And instead of betting on which way LIBOR is going to go, that's the London Interbank Offering Rate, which a lot of major interest rates are set upon on a d…
▶ 58:13
It's also screwing other people out because we're not getting an honest interest rate. You know, here a lot of mortgage rates around the world are set on LIBOR. So in 2012, global regulators exposed this scheme and UBS ends up paying a $1.5…
▶ 58:44
Yeah, they're making more. They're making more interest annually just in one year than they pay in fines. So it's worth the risk. Correct. And they've got to get out of jail free card. Hayes goes to jail. Hayes goes to jail. This kid, as th…