Rigged-Benchmark Probes Proliferate From Singapore to UK

Mark Williams, School of Management

The probe of Libor manipulation is proving to be the tip of the iceberg as inquiries into assets from derivatives to foreign exchange show that if there’s a chance to rig benchmark rates in world markets, someone is usually willing to try…

Expert quote:

“Many bankers continue to behave as they did prior to the financial crisis. Banks and their regulators have to cap bank risk-taking behavior before meaningful change can occur. This is a global problem and not isolated to a few big banks. It’s very troubling.”

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