Awkward!
Posted on 07/12/2012 9:26:42 AM PDT by Sir Napsalot
The latest development in the Libor-manipulation scandal is that the banks weren’t really fixing the price of the key interest rate in total secret — US regulators were aware of the sleazy activities at the time, and seemed to have done nothing.
Which should surprise no one.
I can’t tell you how much federal officials knew about the activities of Barclay’s, JPMorgan, Citigroup and the other big banks at the center of the maelstrom. In coming weeks, both Federal Reserve chief Ben Bernanke and Treasury Secretary Tim Geithner will inevitably discuss the mess when they appear before Congress.
Bernanke testifies before the Senate Banking Committee next week, but the more important hearing by far will come a week later — when the House Financial Services Committee questions Geithner, who headed the New York Fed when the sleaze was going down.
If the right questions get asked, the American people will get a firsthand account not just about how much our government knew about the Libor mess, but also of the cozy, corrosive relationship between the nation’s big banks and the bureaucrats who are supposed to regulate them.
(Excerpt) Read more at nypost.com ...
WHAT and WHEN did he know it? Did he tell his boss, Obama?
WHAT and WHEN did he know it? Did he tell his boss, Obama?
I’m willing to bet that he helped formulate this scheme!
Their definition of "the banking system" is the "too big to fail" big banks. The regional and local banks are not their concern and they get little regard for their efficiency. Really dirty scandals ahead. The commodities industry coming appart at the seams and now the "big banks" crimes uncovered. What a mess. It will have consequences.
No taker for your bet.
I assumed so.
>>> What a mess. It will have consequences.
Nooooo .....
Didn’t Obama FIX the banking/financial crisis? After he threatened he’s the only thing between the pitchfork mob?
////
How soon nobody remembers countrywide and Todd et al. ‘funny money’.
Again, we will see if any in the House asks the right questions......
................. Did he tell his boss, Obama?................
This was when Timmy led the NY Fed, back when he had some difficulty filling out the TurboTax questionaire.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.