'Speaking at the House of Commons Treasury
Committee, the Bank of England’s deputy governor, Paul Tucker told
British MPs that greedy bankers may have been rigging the figures across
dozens of other markets as well as the “cesspit” of the London
Interbank Offered Rate (Libor), reported The Sun.
The manipulation of Libor, a measure of how much banks charge each other for loans, cost Barclays record fines of £290 million. This was followed by the resignation of three top executives, Marcus Agius, the chairman of Barclays, Robert Diamond, Barclays Chief Executive Officer, and Jerry del Missier, Chief Operating Officer and a top deputy to Diamond.'
The manipulation of Libor, a measure of how much banks charge each other for loans, cost Barclays record fines of £290 million. This was followed by the resignation of three top executives, Marcus Agius, the chairman of Barclays, Robert Diamond, Barclays Chief Executive Officer, and Jerry del Missier, Chief Operating Officer and a top deputy to Diamond.'
