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1. Banks colluding to fix Libor 2. Swap traders influencing their own banks Libor. 3. Banks fixing their Libor contribution to mis-represent the health of the
by slivym 9y ago
1. Banks colluding to fix Libor
2. Swap traders influencing their own banks Libor.
3. Banks fixing their Libor contribution to mis-represent the health of their business (possibly egged on by a government that doesn't want banks to fail)
- res0nat0r 9y agoThere's a book written about this entire subject which just came out late last year: The Spider Network: The Wild Story of a Math Genius, a Gang of Backstabbing Bankers, and One of the Greatest Scams in Financial History. It was well written and very interesting if folks are more interested in the folks involved and how all of this went down and their personalities etc. https://amzn.com/0062452983 https://amzn.com/0062452983