Matt Taibbi: Libor Rate-Fixing Scandal "Biggest Insider Trading You Could Ever Imagine"

Democracy Now, Rolling Stone by Matt Taibbi, Amy Goodman, Juan Gonzalez | Jul. 19, 2012 (News Report)

(Multimedia) Rolling Stone’s Matt Taibbi joins us to discuss the pattern of systemic corruption by 16 banks accused of rigging a key global interest rate used in contracts worth trillions of dollars. The London Interbank Offered Rate, known as Libor, is the average interest rate at which banks can borrow from each other. Some analysts say it defines the cost of money. Barclays was recently fined $453 million for rigging Libor, and a number of other banks are under ... Full Story »

Posted by Dwight Rousu

More Info

Tags Help
Subjects: World, U.S., Politics, Business, Community
Topics: Finance, Corruption, Crime, Wealth
Stats Help
# Tweets: 27 (as of 2012-07-19)
Editorial Help
Posted by: Posted by Dwight Rousu - Jul 19, 2012 - 6:50 PM PDT
Reviewed by: Dwight Rousu (review), Randy Morrow (review), Bob Herrschaft (review), Sirajul Islam (review)
Content Type: Multimedia
Edit Lock: This story can be edited
Edited by: Dwight Rousu - Jul 19, 2012 - 10:25 PM PDT

Reviews

Show All Comments
Show All | Notes | Comments | Quotes | Links
Sirajul Islam
4.1
 by Sirajul Islam - Jul. 21, 2012

Informative! Contributing editor for Rolling Stone magazine Matt Taibbi's interview with Amy Goodman of Democracy Now! revealed how sixteen international banks have rigged LIBOR, a key global interest rate, used in contracts worth trillions of dollars.

See Full Review » (18 answers)
Dwight Rousu
4.8
 by Dwight Rousu - Jul. 19, 2012

A good attempt to show the seriousness of the LIBOR scandal, along with some reporting of bad or poor journalism in the US media.

Dwight posted this story.
See Full Review » (11 answers)
Bob Herrschaft
4.5
 by Bob Herrschaft - Jul. 20, 2012

...as far as "the guru of financial journalism" Larry Kudlow is concerned, for years he' s been making a living as the obsequious apologist for the financial fun house.

See Full Review » (11 answers)
Randy Morrow
4.3
 by Randy Morrow - Jul. 20, 2012

Well, first of all, the Bank of England chief, Mervyn King, says that the memo that he sent to the British actually didn’t outline any specific regulatory concerns. It ... More »

See Full Review » (11 answers)

Comments on this story Help (BETA)

Sort by: Oldest | Newest Hide All Replies
NT Rating | My Rating

Ratings

4.4

Good
from 4 reviews (51% confidence)
Quality
4.4
Facts
4.8
Fairness
4.2
Information
4.0
Insight
4.0
Sourcing
4.0
Style
3.8
Accuracy
4.0
Balance
4.0
Context
4.8
Depth
4.0
Enterprise
4.5
Expertise
4.0
Originality
4.0
Relevance
4.5
Responsibility
4.0
Popularity
4.4
Recommendation
4.5
Credibility
4.8
# Reviews
2.0
# Views
5.0
# Likes
1.0
# Emails
1.0
More
How our ratings work »
(See these related stories.)

Links Help

  • More on LIBOR: Plus, Spitzer takes on Bartiromo in Japanese Monster-Movie Epic | Matt Taibbi Pending

    Rolling Stone | Jul. 19, 2012
    Posted by Dwight Rousu
    See Reviews »

  • Wall Street's Biggest Heist Yet? How the High Wizards of Finance Gutted Our Schools and Cities

    AlterNet by Pam Martens | Jul. 19, 2012 (Special Report)
    Wall Street banks have hollowed out our communities with fraudulently sold mortgages and illegal foreclosures and settled the crimes for pennies on the dollar. They’ve set ...
    Posted by Dwight Rousu
    4.8
     See Reviews »
    • Add a related link