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LIBOR: A Question of Trust
Peterson Institute for International Economics ^
| July 11, 2012
| Ted Truman
Posted on 07/20/2012 7:32:26 AM PDT by Brown Deer
Edwin M. Truman explains why the spreading LIBOR scandal has the potential of raising new doubts over the reputations for honesty of many large financial institutions.
TOPICS: Business/Economy; News/Current Events
KEYWORDS: fed; fomc; libor; truman
Edwin M. Truman, senior fellow since 2001, served as assistant secretary of the US Treasury for International Affairs from December 1998 to January 2001 and returned as counselor to the secretary MarchMay 2009. He directed the Division of International Finance of the Board of Governors of the Federal Reserve System from 1977 to 1998. From 1983 to 1998, he was one of three economists on the staff of the Federal Open Market Committee.
To: Brown Deer
And I read today that a group of these banks are looking to “settle”...in which case they get to plead neither guilty or innocent. I hope any judge worth is salt knocks that down. These big guys get away with a fine that they include as ‘the cost of doing business’. BS! to that...I want criminal charges and jail time. No wonder people are opting for the banks of Stearns & Foster. Zero confidence in the system because of bad actors. Greedy rat bat-turds.
posted on 07/20/2012 12:03:30 PM PDT
(See it? Hell, I can TASTE November from my house!)
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