Libor 'Structurally Flawed,' Says Fed

Discussion in 'Europe and Russia' started by trackwhack, Jul 18, 2012.

  1. trackwhack

    trackwhack Tihar Jail Banned

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    So this is rich coming from the most indebted entity in the world - The Federal Reserve of America. But still it is music to the ears when you hear about Londons dream of remaining finance capital of the world going down the drain.:laugh:

    And Mr, Bernanke, the Fed will follow suit sooner or later and will be replaced by a new institution. Its the only way out of 15 trillion in debt.


    http://www.ft.com/intl/cms/s/0/8f7fa84c-d02f-11e1-bcaa-00144feabdc0.html#axzz20z2liXhg
     
    Last edited: Jul 18, 2012
    Armand2REP likes this.
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  3. Armand2REP

    Armand2REP CHINI EXPERT Veteran Member

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    Libor is going to cost London banks $35 billion in lawsuits. Spread over years it is just a slap of the wrist. What it will do is bring regulation to The City and separate speculative finance from legitimate banking. It will force Parliament to submit to EU banking rules.
     

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