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

  • Robert SAYER
    If money is saved then those services which are currently underfunded will be priority. Reducing Council Tax cannot be contemplated whilst this current governm...
  • Alan Jelfs
    For years, we fought for the awarding (or not) of honours to be taken out of the hands of the PM, and given to an indpendent panel. Now we want it back in the h...
  • Kevin Hawkins
    For those interested in a longer term view rather than one week’s results here is the data for the last fifty local by-elections to the end of November: La...
  • John Waller
    Johnson is guilty. During the delayed second lockdown during November, UK daily new cases dropped from 370 per 100,000 to 220. Then people were told that for...
  • Barry Lofty
    I for one am really pleased that the Lib Dems are highlighting Johnson and his government’s disgraceful indifference to the plight of the people they were ele...