Senior bosses at world's biggest banks 'knew LIBOR was rigged'

Section:

This is funny since the Telegraph itself knows that the gold market is rigged too but won't report it any more than the bankers on trial here reported the rigging they saw.

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Senior Bosses at World's Biggest Banks 'Knew LIBOR Was Rigged'

By Tim Wallace
The Telegraph, London
Saturday, April 9, 2016

Senior bosses at the biggest banks in the world were well aware that Libor numbers were wrong and being rigged, a court has heard.

Five former Barclays bankers are on trial accused of conspiracy to defraud, and prosecutors claim they acted dishonestly to manipulate key interest rate benchmark Libor with the aim of benefiting traders’ financial positions.

But lawyers for the former bankers disclosed evidence yesterday that they say proves the practice was widely accepted in the market. Because the bankers had never been told otherwise, the jury at Southwark Crown Court heard, they cannot be said to have acted dishonestly. ...

... For the remainder of the report:

http://www.telegraph.co.uk/business/2016/04/08/senior-bosses-at-worlds-b...



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