The Ripples From The LIBOR Manipulation.

February 13, 2014 tags: Blog, Legal Articles

The ripples from the LIBOR manipulation scandal are starting to assume a greater force. Guardian Care Homes have won an appeal against Barclays allowing them to claim that an interest swap deal pegged to LIBOR should be declared void because Barclays had rigged the rate. Barclays didn't even concede that this was an arguable point. Just have a think about that. The profit is made from the interest chargeable- which is fixed by reference to LIBOR- which is manipulated by the lender- without the borrower knowing. And this was not conceded even as an arguable point by the bank. Just read through that again. And decide if the banks really deserve our support; too bent to fail. LIBOR [gravityform id="1" name="Contact Us:" title="true"]

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