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By Gary Gensler |
August 7, 2012
In an op-ed written for "The New York Times," CFTC Chairman Gary Gensler proposes that we need to move away from Libor for setting interest rates and instead look to other benchmarks.
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By John Detrixhe, Bloomberg |
July 19, 2012
Barclays Plc’s admission that it rigged the London interbank offered rate shows regulators, central bankers and politicians weren’t paying attention when everyone from Citigroup Inc. to the Bank for International Settlements indicated that the measure was being manipulated.
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By Kevin Crowley, Howard Mustoe and Robert Hutton, Bloomberg |
July 10, 2012
Barclays Plc Chief Executive Officer Robert Diamond was accused of misleading U.K. lawmakers after a letter from the Financial Services Authority emerged, contradicting his claim regulators were “happy” with the bank.
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By Jesse Westbrook and Liam Vaughan, Bloomberg |
July 6, 2012
Robert Diamond said a backlash that has led to the resignation of senior managers and erased $5 billion from the bank’s market value is a consequence of the lender being the first sanctioned for rigging interest rates.
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By Andrew Harris, Christine Harper and Lindsay Fortado, Bloomberg |
July 5, 2012
Barclays Plc investors, blindsided by the bank’s $451.4 million regulatory fine for trying to rig benchmark rates, saw the stock drop 16 percent a day later. Other bank shareholders may be just as surprised.
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By Phil Mattingly, Bloomberg |
July 3, 2012
In the U.K., a record fine for Barclays Plc has triggered outrage from lawmakers and forced resignations from the bank’s top executives. In the U.S., Wall Street’s defenders in Congress are sticking by the industry
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By Kitty Donaldson and Robert Hutton, Bloomberg |
June 28, 2012
Barclays Plc Chief Executive Officer Robert Diamond was urged by U.K. Prime Minister David Cameron to show accountability after the bank was fined $451 million for attempting to manipulate the inter-bank lending rate, known as Libor.
