“Don’t worry mate -- there’s bigger crooks in the market than us guys!” the Rabobank yen Libor submitter, identified as Submitter-4 in the filing, said in a Sept. 21, 2007, e-mail, after agreeing to increase its submission to the one-month yen rate by seven basis points from the previous day. Another mid-level manager joked to a colleague seeking help rigging rates: “I am fast turning into your Libor bitch!!!” [Bloomberg]
Accused Libor Manipulators' Nicknames For Each Other Could Use Work
(Allegedly) rigging the London Interbank Offered Rate doesn't leave a lot of time left over for coming up with creative nicknames for your co-workers, but next time let's try to do a little better.