Tag: barclays

Okay, Now I’m Full-On Mad About the Libor Scandal Like a Good Baltimorean

Those are my eyes, and I’m looking off in the direction of London!

When I first posted about the alleged rigging of Libor, the London Interbank Offered Rate — a key interest rate in the global finance world which is set by banks using the honor system — I didn’t know how mad to be. First off, I didn’t really understand the allegation that the rate was set artificially low — it’s determined by banks themselves so isn’t it artificial from the get-go? — and secondly, as a borrower and not an investor, I may have won out with a lower interest rate.