Matt taibbi dating
So, you’re talking— : Right, most individuals think of it in terms of their own mortgages or their own credit cards.
And it’s true, most of those people probably benefited when they were manipulating Libor down.
Remember, the information that the Fed got was that some of the banks not only were manipulating Libor, but they were doing it because they felt they had no choice, because everybody else was doing it.
And for the Fed to get that information and not immediately launch a massive criminal investigation, or help the Justice Department do that, speaks to the ineffectiveness of their response.
When you dig under a lot of the worst police scandals, you’ll often find a statistical imperative at the bottom.
Here it’s clearance rates, in other cases arrest or stop quotas, etc.
Why were there no criminal investigations until now? This is information that should be pertinent to everybody who makes investments, but it was kept secret from everybody.Rolling Stone’s Matt Taibbi joins us to discuss the pattern of systemic corruption by 16 banks accused of rigging a key global interest rate used in contracts worth trillions of dollars.The London Interbank Offered Rate, known as Libor, is the average interest rate at which banks can borrow from each other. Barclays was recently fined 3 million for rigging Libor, and a number of other banks are under investigation.So this is an explosive, gigantic financial scandal.: I mean, it’s—I can’t imagine how he could possibly—a sane person could possibly describe this as a victimless crime.