Who Is Really Responsible For The Libor Scandal

Who Is Really Responsible For The Libor Scandal

This report issue by the ” Treasury Committee” makes for interesting reading if you have the time! It shows how contradiction after contradiction of evidence given was so easily made to be misinterpreted by the three parties! In their own words and as this extract shows ,we could be led to believe that no one person was responsible or that everyone was aware and thus was responsible!

EXTRACT:

The evidence that Mr Tucker, Mr Diamond and Mr del Missier separately gave about this manipulation describes a combination of circumstances which would excuse all the participants from the charge of deliberate wrongdoing. If they are all to be believed, an extraordinary, but conceivably plausible, series of miscommunications occurred.

This was unambiguous to say the least and told us nothing more than we already did not know!

Personally l believe the connection goes back a lot further and a lot more must be revealed before we are able to know, where it started.          

#banking, #barclays, #libor, #report, #treasury-committee