Friday, July 13, 2012

New York Fed knew of Libor cheating in 2008

http://www.marketwatch.com/story/new-york-fed-knew-of-libor-cheating-in-2008-2012-07-13
An unidentified employee of U.K. bank Barclays PLC told the New York Federal Reserve Bank more than four years ago that the bank was filing false reports on a key interest rate, according to documents released by the regional bank on Friday.
The documents show that a summary of this admission was quickly circulated throughout the U.S. government, including the Federal Reserve and the Treasury Department, in 2008. 

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