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"that he knew changing the LIBOR number affected the valuations of swaps — a type of credit derivative based on interest rates". Wrong! The men convicted of Lib
by osullivj 10y ago
"that he knew changing the LIBOR number affected the valuations of swaps — a type of credit derivative based on interest rates". Wrong! The men convicted of Libor manipulation were all interest rate swap traders, so the swaps at issue are interest rate derivatives, not credit derivatives.