BREAKING! --- UBS Said Planning to Admit JAPAN Wrong-doing in LIBOR

Here is a good video re: LIBOR.

Thank you - great vid indeed, watched that before.

Yeah, he really makes it clear how HUGE of a deal this was. Now, UBS (President Obama's golfing buddies - let the reader discern) will throw Japan under the bus!

Strange, that this news comes out, right in the midst of this tragic shooting and on a Friday.

Thanks for the bumps

BBC covering it a bit now and others too, for UBS got a huge fine, But that is CHUMP change compared to the theft. If anyone else did such a crime, they would be in the slammer and fined!



'Customers could take action against Libor banks'
[link to www.bbc.co.uk]

"The Federal Reserve Bank of New York was warned as early as mid-2008 that banks may have been misreporting their Libor borrowing rate to aid their own trading positions, much earlier than previously known.

Tim Geithner, then president of the New York Fed and now US Treasury secretary, was told by a senior colleague in a May 2008 email of her concerns about banks' deliberate misreporting."
...

"A global investigation spanning multiple continents now threatens as many as 20 banks and inter-broker dealers that may have been involved in manipulating interbank rates influencing hundreds of trillions of dollars' worth of financial instruments from 2005 to 2009."



FULL:
[link to www.cnbc.com]