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It later came out that banks had not only lied about their numbers during the crisis to make the financial system look safer, but had been doing it generally ju
by Torai 9y ago
It later came out that banks had not only lied about their numbers during the crisis to make the financial system look safer, but had been doing it generally just to rip people off, pushing the number to and fro to help their other bets pay off.
Written exchanges between bank employees revealed hilariously monstrous activity, with traders promising champagne and sushi and even sex to LIBOR submitters if they fudged numbers.
"It's just amazing how LIBOR fixing can make you that much money!" one trader gushed. In writing.
Maybe this is old news, but they should be imprisoned for it.
- bboreham 9y agoSome have been jailed. Jay Merchant, Tom Hayes, etc.