Tag Archives: eddie george

Barclays and the Bank of England: BAD rate-rigging and GOOD rate-rigging

The Barclays rate-rigging scandal has conflated a number of issues — Bob Diamond’s bonus, ‘casino’ banking, failed regulators — making it hard to get behind the media’s shouty headlines to understand the issues which should really concern us. Here’s my brief show-your-working attempt, starting with what Barclays.

What Barclays did right: ‘fess up

LIBOR (London Inter Bank Offered Rate) is the rate at which banks in London lend money to each other for the short-term. It’s used as a proxy measure of market confidence in individual banks, as well as a benchmark for setting mortgage interest rates.

Barclays has admitted filing misleading …

Posted in Op-eds | Also tagged , , , , , , , , , and | 15 Comments
Advert



Recent Comments

  • Tristan Ward
    @Cassie "Every few months when someone ignites the ‘we can’t afford the triple lock’ subject. " That's because the policy is expensive and funding i...
  • Craig Levene
    Hesgeth was very combatative, and impressed. Up against some tough questioning, & also some banal tabloid ones as well, he coped easily with both. Bondi al...
  • Nick Baird
    Russian hybrid warfare also includes GPS jamming and spoofing of civil aircraft navigation in the Baltic and now northern Norway. This and their other nefariou...
  • Cassie
    It’s not ‘playing to the gallery’ to reassure people who, having already lost the winter fuel allowance, are yet again hearing: “We can’t afford you a...
  • John Waller
    @ Jenny - I spent Christmas with my wife's Danish family and our Danish friends. Our granddaughter cooked wonderful food to celebrate Hannukah with her Jewish h...