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I don't understand the LIBOR scandal. Haven't banks always set their own interest rates?

 
Anonymous Coward
User ID: 36892164
Canada
04/23/2013 01:21 PM
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I don't understand the LIBOR scandal. Haven't banks always set their own interest rates?
I'm reading that banks have "manipulated" the interest rate. do they mean after the agreement or something like that? 1dunno1
Anonymous Coward
User ID: 38238378
04/23/2013 01:30 PM
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Re: I don't understand the LIBOR scandal. Haven't banks always set their own interest rates?
The Super banks often need massive amounts of money from each other in a BIG hurry, meaning no time to negotiate rates and terms before the transfer, hence a preagreed rate- the LIBOR -that they can count on each other for. A altogether different situation from dealing with ordinary customers.
Anonymous Coward
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United States
04/23/2013 01:53 PM
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Re: I don't understand the LIBOR scandal. Haven't banks always set their own interest rates?
I bought several farms in OK and AR
two decades ago and I remember the
banks based their base interest rate
on LIBOR.
Anonymous Coward
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United States
04/23/2013 01:58 PM
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Re: I don't understand the LIBOR scandal. Haven't banks always set their own interest rates?
consult holmes and lanza




I bought several farms in OK and AR
two decades ago and I remember the
banks based their base interest rate
on LIBOR.
 Quoting: Anonymous Coward 38753924

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