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REPORT ABUSIVE REPLY
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Message Subject
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James Holmes' Father - LIBOR
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Poster Handle
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IndigoSerenity76 |
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Post Content
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FYI ...
LIBOR ,, aka: London Interbank Offered Rate
What is this you ask? It is a benchmark or the process of comparing one's business processes to industry best standards. The scandal comes from using this LIBOR to set interest rates for trillions of dollars of consumer loans, including mortgages and credit cards,( oh by the way), it was all rigged to boost profits.
Imagine that, crooked bankers. They live by this creed. I have no brother. I am not my brother’s keeper.
"To a foreigner you may charge interest, but to your brother you shall not charge interest, that the LORD your God may bless you in all to which you set your hand in the land which you are entering to possess. (Deuteronomy 23:19,20)
Quoting: Anonymous Coward 1243271 In 2008 people in the USA were very close to having (some) debts changed to LIBOR rates. Never sure why it never happened. Great post, OP! edited to add: maybe it wasn't in 2008, could have been 2009 since the crises hit in the fall of '08. Thank you :)
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