International News • Tim Geithner “Aided and Abetted” LIBOR Crimes
Jim Rickards: Tim Geithner “Aided and Abetted” LIBOR Crimes
The economy is the main event but the LIBOR scandal will be on the under-card when Fed Chairman Ben Bernanke testifies before Congress again today.
At issue is what the Fed, and other bank regulators, knew about manipulation of the key lending rate and whether they condoned banks giving low-ball estimates of LIBOR in order to make themselves look healthier during the crisis of 2008.
Bernanke is likely to face some inquires about this issue, but the U.S. regulator most questions are being asked about is Treasury Secretary Tim Geithner, who is set to testify about the matter before the House Financial Services committee next week.
In 2008, while President of the NY Fed, Geithner sent a memo to British regulators to raise concerns about potential manipulation of LIBOR, as has been widely reported and confirmed Friday by the NY Fed.
This 4:32 video was posted on "The Daily Ticker" website yesterday morning…and was picked up by finance.yahoo.com Internet site yesterday
Statistics: Posted by DIGGER DAN — Wed Jul 18, 2012 9:08 am
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