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Casino Capitalists Playing With Fire

Buck O Wrote: Jul 10, 2012 12:17 PM
"Asia's nations devalued and began exporting heavily to the United States to earn the dollars to pay back their loans." And now, we've turned the tables on them with "quantitative easing" I, II, son of QE, grandson of QE, etc. etc. Two can play at this game, but maybe we should all stop playing games.
RyanM Wrote: Jul 10, 2012 3:01 PM
Yeah, and cut off our own noses in spite of our faces. All that fiat money being created has lead to more inflation here in the US.
Comes now news from across the pond that executives at one of the world's most respected banks, Barclays, rigged Libor. Even the venerable Bank of England is apparently being investigated.

For sports fans, this is like fixing the Super Bowl or doping a horse in the Derby. But it is rather more serious. For the London Interbank Offered Rate is the benchmark interest rate for trillions in loans around the world.

Manipulate Libor a small fraction of a point, and lenders reap millions more in interest income on hundreds of billions in loans.

How many more such blows to their credibility...

Related Tags: Corruption Big Banks