— -- A new scandal in the banking industry is undermining its image, already tarnished by rogue trading at JPMorganChase and the 2008 subprime mortgage collapse. At the heart of the scandal: ...
Sometimes fake-news host Jon Stewart is a better source of banking news than his counterparts in broadcast journalism. Since June 27, the Libor rate-fixing scandal has cost Barclays $450 million in ...
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What was the LIBOR rate, and what happened to it?
LIBOR set interest rates for trillions of dollars in loans for over 30 years. Banks manipulated the rate because it relied on estimates rather than real transactions. A new system called SOFR replaced ...
Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Timothy Li is a consultant, accountant, and finance manager with an MBA from USC and over 15 ...
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