Skip to comments.'Where Is the Press With the Outrage?' This Major Financial Scandal Has Santelli Up in Arms
Posted on 07/17/2012 10:09:14 AM PDT by Nachum
Rick Santelli on Monday tore into the mainstream media for ignoring the London Inter-Bank Offer Rate (LIBOR) scandal and chided them for wasting time on petty and useless headlines.
Wait, whats the LIBOR scandal?
LIBOR is the average interest rate the worlds largest banks pay when they borrow money. And this figure is used to price hundreds of trillions of dollars worth of financial instruments, from high-yield corporate debt to student loans, Christopher Matthews writes for TIME Business.
Simply put, LIBOR isnt just some financial services sector thing it affects the everyday interest rates associated with loans, credit cards, etc.
This is where things start to go downhill.
Barclays, one of the worlds largest banks, admitted two weeks ago that it had submitted false data in order to keep its borrowing rates low. And while that alone is enough to cause concern, the real problem lies in the fact that Barclays wasnt the only bank pulling this kind of stunt.
(Excerpt) Read more at theblaze.com ...
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Where is the press? Bought and paid for.
it’s more important for the media to report that Obama’s favorite Girl Scout cookies are the Thin Mints
The kernels haven’t even started to pop good on this popcorn party.
I guess the only thing we can do anymore is grit our teeth and hoist a middle finger towards Washington DC. Or better yet, boil it down to just FUBO.
If Romney said he would appoint Rick Santelli as SecTres I might get excited about supporting him.
JOHN CORZINE, TIM GEITNER, BARACK HUSSEIN OBAMA, are involved in this !!!
The American Hitler will get elected on a promise to send the bad bankers to Leavenworth. And the really bad bankers to Gitmo.
Well it would be a change from having thebad bankers working for the FED and the REAL BAD bankers working for the Government.
Paid for? No, they're giving it up for free like the cheap sluts they are.