If there’s a benchmark, someone is trying (and probably succeeding) at manipulating it.
Sure, the old system was susceptible to widespread and unrelenting fraud, but at least it was predictable.
"The truth always comes out, and I know which side Tom and I will be on when it does."
"There is so much to learn in trading, there is an infinite number of ways you can lose money."
What's the word for the opposite of schadenfreude?
Gavin Black has a different view of his activities at DB than US regulators.
Jonathan Mathew is not having the greatest of days.
Hmm...we're not seeing a lot of hands...
So this whole Libor rigging thing has come as a surprise.
Ex-trader alleges that working at Barclays was a lot like having dinner with Al Capone.
Tom Hayes is crowdfunding his appeal.
The Germans would prefer that Georg Thoma just save the drama for his mama.
Mr. Libor is getting a few pieces of coal removed from his stocking.
A broker who worked with the ex-UBS employee cannot deny his talent.
And yet the inventor of rate-rigging sits pretty.
And then presumably slapped himself on the forehead and shouted "Idiot!" immediately after hitting send.
This is all just a silly misunderstanding.
(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.
Apparently Tom Hayes was just the beginning for the comically named organization.