Zzzzzzzzzzzzzzzzzzzzzzzzzz Posted April 16, 2008 Share Posted April 16, 2008 http://online.wsj.com/article/SB1208311641...=hpp_us_pageone Quote Link to comment Share on other sites More sharing options...
Injin Posted April 16, 2008 Share Posted April 16, 2008 http://online.wsj.com/article/SB1208311641...=hpp_us_pageone Oh dear. And also Wtf? Quote Link to comment Share on other sites More sharing options...
Questiondog Posted April 16, 2008 Share Posted April 16, 2008 Ooo.. that sounds so bad.. I actually get nervous when I read posts like that... Quote Link to comment Share on other sites More sharing options...
Guest X-QUORK Posted April 16, 2008 Share Posted April 16, 2008 My oh my...the doo-doo just keeps getting deeper for McStalin. Quote Link to comment Share on other sites More sharing options...
babesagainstmachines Posted April 16, 2008 Share Posted April 16, 2008 They lie about everything else, why shoudl the banks tell the truth about this ? Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted April 16, 2008 Share Posted April 16, 2008 That really is extremely serious if true. I can't believe it's not getting more coverage. Actually, I can. Don't panic the masses. Not that most would understand anyway. Quote Link to comment Share on other sites More sharing options...
Paddles Posted April 16, 2008 Share Posted April 16, 2008 Am I right in thinking that this is potentially very significant? We will find out quite how significant at 11ish tomorrow, right? Quote Link to comment Share on other sites More sharing options...
Guest_chris c-t_* Posted April 16, 2008 Share Posted April 16, 2008 Am I right in thinking that this is potentially very significant? We will find out quite how significant at 11ish tomorrow, right? Nah, they just need to rename it: LIE-BOR Quote Link to comment Share on other sites More sharing options...
Paddles Posted April 16, 2008 Share Posted April 16, 2008 Bump. So, is this or isn't this significant? The thread seems to have sunk quickly down the listings. Can someone who knows what they're talking about dimiss this news or confirm whether we are going to see something interesting on the LIBOR rate tomorrow morning? Quote Link to comment Share on other sites More sharing options...
Injin Posted April 16, 2008 Share Posted April 16, 2008 Bump.So, is this or isn't this significant? The thread seems to have sunk quickly down the listings. Can someone who knows what they're talking about dimiss this news or confirm whether we are going to see something interesting on the LIBOR rate tomorrow morning? How would anyone know? It goes up, it goes down..now we all know it might be because lies. Can't be trusted, what happens when it can't be trusted? Now..if it was me I would pull everything out even vaguely associated asap if I could. Wouldn't you? Quote Link to comment Share on other sites More sharing options...
mbga9pgf Posted April 16, 2008 Share Posted April 16, 2008 Bump.So, is this or isn't this significant? The thread seems to have sunk quickly down the listings. Can someone who knows what they're talking about dimiss this news or confirm whether we are going to see something interesting on the LIBOR rate tomorrow morning? The timing of the BOE decision is significant in this. If LIBOR had shot up tmmrw as a result of this, UKPLC would have been Fooked. Tomorrow I feel is D-Day in our war. Tomorrow COULD be very very similar to Black wednesday, as the moves they are making could shake confidence if dodgy dealings have been going on... Quote Link to comment Share on other sites More sharing options...
dreamOn120k Posted April 16, 2008 Share Posted April 16, 2008 So, is this or isn't this significant? Perhaps this explains the very high standard variable rates being set on mortgages recently. I thought the high rates were blatant profiteering by the bank milking cash out of high LTV customers who cannot shift to another bank after a reset. But if that hidden 0.3% on Libor is true, then prevailing mortgage rates are a more reasonable reflection of true inter bank rates. Quote Link to comment Share on other sites More sharing options...
Paddles Posted April 16, 2008 Share Posted April 16, 2008 How would anyone know?It goes up, it goes down..now we all know it might be because lies. Can't be trusted, what happens when it can't be trusted? Now..if it was me I would pull everything out even vaguely associated asap if I could. Wouldn't you? Seems like only 3 of us are vaguely interested in this out of 800+ folk on this forum. Hmmm, I feel HPC has gained a very different population, somewhat less well-versed in economics, recently. Oh well, I suppose it's another indicator that we're in the next phase of the cycle. Quote Link to comment Share on other sites More sharing options...
Injin Posted April 16, 2008 Share Posted April 16, 2008 Seems like only 3 of us are vaguely interested in this out of 800+ folk on this forum. Hmmm, I feel HPC has gained a very different population, somewhat less well-versed in economics, recently.Oh well, I suppose it's another indicator that we're in the next phase of the cycle. You could try adding keywords for the new guys? Twelve foot tall lizard men - global conspiracy - banking overlords! Well, you never know.... Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted April 16, 2008 Share Posted April 16, 2008 Seems like only 3 of us are vaguely interested in this out of 800+ folk on this forum. Hmmm, I feel HPC has gained a very different population, somewhat less well-versed in economics, recently.Oh well, I suppose it's another indicator that we're in the next phase of the cycle. TBH mate I'm kinda overdosed on any finance related news atm, just catching up whilst watching the latest bunch of unemployable psycopaths get their 'big chance' on the apprentice, its like a slightly up market Jeremy Kyle show isn't it? Not that I'd watch that ...this Simon is a whopper, useless tart, deffo not management Quote Link to comment Share on other sites More sharing options...
huw Posted April 16, 2008 Share Posted April 16, 2008 (edited) It seems odd that they ask what the banks were able to borrow at; wouldn't banks have less incentive to lie if asked how much they were prepared to lend at? Edited April 16, 2008 by huw Quote Link to comment Share on other sites More sharing options...
rich6400 Posted April 16, 2008 Share Posted April 16, 2008 Seems like only 3 of us are vaguely interested in this out of 800+ folk on this forum. Hmmm, I feel HPC has gained a very different population, somewhat less well-versed in economics, recently.Oh well, I suppose it's another indicator that we're in the next phase of the cycle. I agree. I pop over to that place where goldfinger is now. I predicted that this would happen over there. Still come here now and again though. Quote Link to comment Share on other sites More sharing options...
petetong Posted April 16, 2008 Share Posted April 16, 2008 TBH mate I'm kinda overdosed on any finance related news atm, just catching up whilst watching the latest bunch of unemployable psycopaths get their 'big chance' on the apprentice, its like a slightly up market Jeremy Kyle show isn't it? Not that I'd watch that ...this Simon is a whopper, useless tart, deffo not management Sorry to interject but it's superb isn't it. The products of a new labour society and debt consumerism, trying to flog crappy photos to half-wit consumer zombies wandering around some mega-shopping complex hell in Essex, whilst some dickh*ad bbc commentator makes out how dynamic and wonderful it is. It's the uk for the last 10 years summed up in 60 minutes of crap bbc tv Quote Link to comment Share on other sites More sharing options...
piece of paper Posted April 16, 2008 Share Posted April 16, 2008 Bump.So, is this or isn't this significant? The thread seems to have sunk quickly down the listings. Can someone who knows what they're talking about dimiss this news or confirm whether we are going to see something interesting on the LIBOR rate tomorrow morning? We are led to believe that they won't lend to each other. How would they know? It's a bit like asking Gordon what strength spectacle lens prescription he needs for his glass eye. It seems to be a case of "If we could, what would we expect to pay?" p-o-p Quote Link to comment Share on other sites More sharing options...
Crashman Begins Posted April 16, 2008 Share Posted April 16, 2008 According to minutes of the meeting, "several group members thought that Libor fixings had been lower than actual traded interbank rates through the period of stress." The desperation of the banks is showing. Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted April 16, 2008 Share Posted April 16, 2008 Sorry to interject but it's superb isn't it. The products of a new labour society and debt consumerism, trying to flog crappy photos to half-wit consumer zombies wandering around some mega-shopping complex hell in Essex, whilst some dickh*ad bbc commentator makes out how dynamic and wonderful it is. It's the uk for the last 10 years summed up in 60 minutes of crap bbc tv Well summed up, not sure you'd get the gig doing the write up for the Radio Times though Quote Link to comment Share on other sites More sharing options...
29929BlackTuesday Posted April 16, 2008 Share Posted April 16, 2008 So - what IS happening then? Are they manipulating libor down or up? Quote Link to comment Share on other sites More sharing options...
Crashman Begins Posted April 16, 2008 Share Posted April 16, 2008 So - what IS happening then? Are they manipulating libor down or up? Seems like down.. when it should have been higher. The concern: Some banks don't want to report the high rates they're paying for short-term loans because they don't want to tip off the market that they're desperate for cash. The Libor system depends on banks to tell the truth about their borrowing rates. Fibbing by banks could mean that millions of borrowers around the world are paying artificially low rates on their loans. That's good for borrowers, but could be very bad for the banks and other financial institutions that lend to them. Quote Link to comment Share on other sites More sharing options...
Guest mattsta1964 Posted April 16, 2008 Share Posted April 16, 2008 Seems like only 3 of us are vaguely interested in this out of 800+ folk on this forum. Hmmm, I feel HPC has gained a very different population, somewhat less well-versed in economics, recently.Oh well, I suppose it's another indicator that we're in the next phase of the cycle. Cos i've overdosed on bad news! Hells bells......the world has gone completely and utterly mad As if the financial situation isn't bad enough, we have a militarist dictatorship in America about to fire off WW3 and the Trojan Horse of the EU destroying the UK from the inside out. To say things are depressing are a gross understatement I feel bloody wretched Quote Link to comment Share on other sites More sharing options...
VillageIdiot Posted April 16, 2008 Share Posted April 16, 2008 Forgive my complete ignorance around this topic, but why would the banks responsible put their hands up and say "fair cop guv" at allegations of fixing? If there is manipulation occuring, surely a slow unwinding (coupled with back covering) would be the smart move. Any signals given out could be lost in the background noise. Then again I may not know what I'm talking about. Quote Link to comment Share on other sites More sharing options...
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