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Articles by Paul Craig Roberts and Nomi Prins

We found 1 results.

The Real LIBOR Scandal
Paul Craig Roberts and Nomi Prins – TRANSCEND Media Service, 16 Jul 2012

According to news reports, UK banks fixed the London interbank borrowing rate (Libor) with the complicity of the Bank of England (UK central bank) at a low rate in order to obtain a cheap borrowing cost. The way this scandal is playing out is that the banks benefitted from borrowing at these low rates. Whereas this is true, it also strikes us as simplistic and as a diversion from the deeper, darker scandal.