Berto Jongman: Libor Scandal “Still Not Clean” — Scandal and Cheating Continue

Commerce, Corruption, Government
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Berto Jongman
Berto Jongman

Libor setting ‘still not clean’ despite scandal

Gary Gensler says banks need a reference rate “based on facts not fiction”

The way that the key Libor interest rate is set in the UK is still not clean and free of fraud, according to a top US regulator.

“We have a lot more work to do,” Gary Gensler, chairman of the Commodity Futures Trading Commission, told the BBC in London.

He suggested that the rate was often “completely made up”.

Read full article.

Related:

Unregulated banking and crooked stock exchange continue in the USA

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