Looks like the blame game has started and had started a long time ago. But then again the regulators are in cahoots with these Banks and too-big-to-fail banksters. But can you really blame them ? Moral Hazard has long been the name of the game and when governments bail these institutions out, this cycle will continue.
Major banks, which often band together when facing government scrutiny, are now turning on one another as an international investigation into the manipulation of interest rates gains momentum.
- Japan Widens Inquiry Into Insider Trading – NYTimes.com (nadernazemi.com)
- As Libor Fault-Finding Grows, It Is Now Every Bank for Itself (dealbook.nytimes.com)
- Keeping LIBOR in Our Minds (anonymousgeneration.wordpress.com)
- Worldwide Financial Crisis: Libor Scandal goes Global (globalresearch.ca)
- Libor Is Not the Only Manipulated Economic Number (ritholtz.com)