Fed Reserve and T Geithner involved in Libor Rate rigging

[Claudekrowe]

Well the smelly little involvement across the Alantic between the US Fed and London BofE heads is getting some traction, I read about it in the just in pages of ABC News but the juicy bits can be read in this batch of headlines from the Washington Post

http://www.washingtonpost.com/newssearc ... bmit+Query

Confirms what many of us suspected, that the American financial system has some crooks involved in decision making positions!



This bit particularly enlightening!!

While Geithner expressed concerns to the British central bank, it wasn’t until last month that U.S. and British regulators won a settlement with Barclays and imposed fines.

It isn’t clear why Geithner didn’t make his concerns public after he sent the email in 2008.

Treasury spokeswoman Natalie Wyeth declined to comment on the subject Friday.

The New York Fed released the documents at the request of Rep. Randy Neugebauer, R-Texas, who heads the House Financial Services investigative panel.

“As much as $800 trillion in financial products are pegged to LIBOR, so any manipulation of this rate is of serious concern,” Neugebauer said in a statement Friday. “We’ll continue looking into this matter to determine who was involved in this practice and whether it could have been prevented by regulators.”