Posted 8 years ago on July 4, 2012, 9:02 a.m. EST by LloydJHart
from Vineyard Haven, MA
This content is user submitted and not an official statement
Libor Criminal Rate Fixing Conspiracy Finally Surfaces.
By Lloyd Hart 508-687-9153
First, do you know what the Libor is? Secondly, did you know that when the criminals behind the scheme fixed the rate higher in 2008 may have caused you or your parents to lose their home?
Oh, and all the big banks are implicated in this 534 trillion dollar criminal conspiracy.
Oh, and half the student loans in America are effected by the Libor.
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The London Interbank Offered Rate is the average interest rate estimated by leading banks in London that they would be charged if borrowing from other banks. It is usually abbreviated to Libor (play /ˈlaɪbɔr/) or LIBOR, or more officially to BBA Libor (for British Bankers' Association Libor) or the trademark bbalibor. It is a benchmark, along with the Euribor, for interest rates all around the world.
Libor rates are calculated (criminally fixed) for different lending periods: overnight, one week, one month, two months, six months, etc., (for when banks need to hide their liabilities) and published daily at 11:00 by the British Bankers' Association. Many financial institutions, mortgage lenders and credit card agencies set their own rates relative to (and typically higher than) Libor.
Guardian live page on "Libor Scandal". http://www.guardian.co.uk/politics/blog/2012/jul/04/bob-diamond-mps-barclays-live
Barclays Libor Scandal: Rate Rigging Affects Your Loan Payments http://www.huffingtonpost.com/2012/07/03/barclays-libor-scandal-rate-fixing-loan-payments_n_1646876.html