London Interbank Borrowing Rate or LIBOR is one of the most fundamental tools that used in today’s financial industry. It makes up the basic building block when it comes to deciding the prices and structures of more complex and complicated financial products used nowadays.
Here’s an Infographic which will help anyone understand the What, Why and How of the LIBOR scandal.
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1 Comment
The Infographic should have explained more explicity the illicit fixing that happened between the “Traders” and the Submitters” of the Banker Species, in the “What actually happened”.
In Short :
Aggressively Competitive Corporate culture + Alfa males = Elevated Testosterone +Illicit Unadulterated Greed.