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Home Q & A Board Humanities Religion and Philosophy
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azuniga34 azuniga34
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6 years ago

In 2012, the news story broke that at least sixteen major banks in the United States and Great
  Britain had for many years falsified data to set a key economic index called LIBOR (London
  InterBank Offered Rate). This is a technical index that, roughly, sets interest rates for a wide
  range of financial issues, from home mortgages and credit card rates to payments on savings
  and investments. A CNBC anchor named Larry Kudlow said the banks actions were a
  victimless crime and he did not understand why prosecutors in both countries were pursuing
  legal actions against the banks. A reporter for Rolling Stone named Matt Taibbi challenged him,
  pointing out that artificially low rates might help some mortgage holders but would hurt
  investments of individual savers as well as investments by cities, states, and pension funds.


 
  What will be an ideal response?
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layleeburchelllayleeburchell
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6 years ago
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azuniga34 Author
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6 years ago
This calls for a celebration Person Raising Both Hands in Celebration
mikey3091
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Yesterday
this is exactly what I needed
amandamraz
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2 hours ago
Just got PERFECT on my quiz
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