London Interbank Offered Rate

Game over for the banking cartel: Libor scandal global corruption exposed

Submitted by Madame Butterfly on Thu, 07/05/2012 - 10:43

 

Shocking new evidence is coming to light that reveals a criminally organized cartel of bankers have been systematically and methodically cheating the Libor scores on a global scale, affecting almost every financial market in the entire world.

Libor is the rate at which banks charge each other for lending and borrowing. Each and every morning these rates are exchanged between global banks, and shocking new evidence is revealing that banks have been faking these credit scores in order to cheat the system. This is corruption to the deepest core of the global banking system.

Despite these ongoing expansive revelations of massive fraud and corruption, no banks in North America have been forced to face repercussions. In England, however the scandal has hit hard, with Barclays Banks last week beginning the fall of the mighty "too big to fail" banks that could be the first of many more dominoes to fall in rapid succession from one corner of the globe to another.

The question remains - when will the people of North America get interested enough or angry enough to hold these bankers accountable?

...Or is the Tom Cruise/Katie Holmes divorce more important to the average American?

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