Bank of England and Federal Reserve Knew About – and Encouraged – Massive Interest Rate Manipulation by Big Banks
February 24, 2014
Central Banks Go to Great Lengths To Prop Up Insolvent Banks … and Put Lipstick On a Pig
We noted in 2012 that bot the Bank of England and Federal Reserve knew about the Libor interest rate rigging scandal by the big banks.
Newly-released minutes of the meeting of the Fed’s Open Market Committee confirm that the Fed knew about the Libor interest rate manipulation.
And Bloomberg reported earlier this month:
Bank of England officials told currency traders it wasn’t improper to share impending customer orders with counterparts at other firms, a practice at the heart of a widening probe into alleged market manipulation, according to a person who has seen notes turned over to regulators.