The Cartel: Behind the Scenes in the Libor Interest Rate Scandal

[sysop]

There have been plenty of banking scandals, but none quite like this: Investigators and political leaders believe that the manipulation of the Libor benchmark interest rate was the result of organized fraud. Institutions that participated could face billions in fines and penalties. By SPIEGEL Staff

http://www.spiegel.de/international/...847453,00.html

[ewulf]

Originally Posted by sysop

There have been plenty of banking scandals, but none quite like this: Investigators and political leaders believe that the manipulation of the Libor benchmark interest rate was the result of organized fraud. Institutions that participated could face billions in fines and penalties. By SPIEGEL Staff

http://www.spiegel.de/international/...847453,00.html

This is an aditional example, concerning the risks for regulators of relying heavely on selfregulation.