Skip to comments.Libor rate manipulation scandal addressed quickly, says Geithner
Posted on 07/18/2012 12:01:37 PM PDT by Nachum
WASHINGTON (AP) Treasury Secretary Timothy Geithner said Wednesday that he acted quickly and appropriately to deal with problems in a key global interest rate once he realized the rate-setting process was flawed.
Geithner, who was then head of the Federal Reserve Bank of New York, said during an interview with CNBC that he sent a memo in 2008 to British banking authorities outlining his concerns about possible manipulation of the London interbank offered rate (Libor). He also said he alerted U.S. regulators.
(Excerpt) Read more at politico.com ...
We’ve already learned that if his lips move he’s not telling the truth....
Where’s the GOP on this? Another scandal goes by and the republicans are quiet. If a republican farted, Pelosi would have called a news conference about it.
Man, they swept that one under the rug real quick!
A multitrillion dollar industry is manipulating the core benchmark for interest rates globally, and this guy gets so worked up that he went nuclear on them - he wrote a stinkin’ memo to some bureaucrat then dropped the whole subject. No follow-up. No meetings with them. No subpoenas, investigations, or anything else. He just forgot the whole fraud and then it's back business as usual.
This guy is part of the fraud. He needs to be in jail with Madeoff.