Libor Scandal (was: HUGE FINANCIAL SCANDAL... Possibly biggest ever.) (1 Viewer)

[Hist]

http://www.nytimes.com/interactive/2012/07/10/business/dealbook/behind-the-libor-scandal.html

I am still reading up more to understand it but as far as I understand this so far, it seems that those who traded in derivatives (betting that interest rates will go up) and gave out loans have been screwed really really badly (WORLDWIDE btw). Barclays are the primary crooks but probably most giant banks are in on it too. The US investigations have just begun.

Here is for hoping the Barclays Premier League Crashes.

 

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[swag]

Not entirely breaking news, tho'... I've even been joking about it for days here.

---------- Post added 11.07.2012 at 11:21 ----------

Renaming so the topic is clear.

 

[DVS]

Here is for hoping the Barclays Premier League Crashes.

Barclays extends Premier League deal

July 12, 2012

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By ESPN staff

Barclays Bank has agreed a new three-year deal with the Premier League worth £120 million.



Barclays, which followed Barclaycard as the league's official sponsor in 2004, has extended its agreement until the end of the 2015-16 season.

The deal includes the global title sponsorship of the Premier League and exclusive worldwide marketing rights, plus extensive advertising rights, tickets and hospitality

 

[swag]

Awesome. So we get to call it the Libor Scam Premier League until 2016.