Friday, May 30, 2008
Banks in positive spin shock
Reuters: Banks may be understating key lending rate: report
"Major banks may have understated Libor, a crucial global interbank lending benchmark, masking weakness in the global financial system, according to a Wall Street Journal analysis.
Libor has indicated that the banking system was stronger than it actually was at critical junctures in the financial crisis, the paper reported."
Looks like they've been lying to us chaps and chapesses
Posted by crutchley @ 09:18 AM (44 views) Add Comment
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