Tag Archives: paul tucker

Stephen Tall

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

By Stephen Tall | Wed 4th July 2012 - 11:15 am

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 …

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

Recent Comments

  • David Evans
    ... and in addition. Sorry David (Raw). It is all far too late now to stop it. It's too late even for us to make a noticeable national protest about it, so...
  • David Evans
    Hi Steve, Nah, Just one consistent purpose - Labour party advantage. David...
  • Sandy Walkington
    Man is born free and everywhere s/he is in chains… Michal you are an outstanding mayor, proud to have you as my first citizen....
  • Jana
    “ There is no offence of using the wrong lavatory and there never has been” This is correct - an offence would only be committed if there were some malicio...
  • cim
    Agreed with a lot of the above, "compulsory voting" is just a way to mask the symptom that there's not much in our current democracy that gets people excited to...