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 Post subject: The LIBOR scandal
PostPosted: Sun Jul 15, 2012 5:14 pm 
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Joined: Mon Dec 06, 2010 12:15 am
Posts: 1551
Location: Los Angeles
Yeah, its worse than you ever imagined.


http://bettermarkets.com/reform-news/de ... or-scandal

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 Post subject: Re: The LIBOR scandal
PostPosted: Mon Jul 16, 2012 5:28 am 
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Joined: Fri Dec 10, 2010 9:23 am
Posts: 933
Location: Bristol
Been wondering what the fuss is about this.

The guys with/in charge of all the money are corrupt, is that news?

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 Post subject: Re: The LIBOR scandal
PostPosted: Mon Jul 16, 2012 12:37 pm 
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Joined: Mon Dec 06, 2010 12:15 am
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Location: Los Angeles
Its 'new' news when the revelation is that ALL of the guys with all of the money are horribly corrupt.

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 Post subject: Re: The LIBOR scandal
PostPosted: Mon Jul 16, 2012 12:55 pm 
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Joined: Sun Dec 05, 2010 11:38 am
Posts: 652
Location: Albuquerque, NM
HORNS wrote:
Its 'new' news when the revelation is that ALL of the guys with all of the money are horribly corrupt.



Maybe that's "new news" to you, but I'm pretty sure the rest of us had that bit figured out.

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 Post subject: Re: The LIBOR scandal
PostPosted: Mon Jul 16, 2012 12:58 pm 

Joined: Sat Dec 18, 2010 6:44 pm
Posts: 159
RacerX wrote:
HORNS wrote:
Its 'new' news when the revelation is that ALL of the guys with all of the money are horribly corrupt.



Maybe that's "new news" to you, but I'm pretty sure the rest of us had that bit figured out.


And ain't shit gonna be done about it.


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 Post subject: Re: The LIBOR scandal
PostPosted: Mon Jul 16, 2012 1:07 pm 
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 Post subject: Re: The LIBOR scandal
PostPosted: Mon Jul 16, 2012 1:32 pm 
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Joined: Mon Dec 06, 2010 12:15 am
Posts: 1551
Location: Los Angeles
RacerX wrote:
HORNS wrote:
Its 'new' news when the revelation is that ALL of the guys with all of the money are horribly corrupt.



Maybe that's "new news" to you, but I'm pretty sure the rest of us had that bit figured out.



Well its new news to Matt Taibbi, as he said in the clip. But then you're smarter than him Racer...
or you are in the advanced stages of brain shrinkage from your vegan diet.

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 Post subject: Re: The LIBOR scandal
PostPosted: Mon Jul 16, 2012 1:38 pm 
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Joined: Sun Dec 05, 2010 11:38 am
Posts: 652
Location: Albuquerque, NM
HORNS wrote:
RacerX wrote:
HORNS wrote:
Its 'new' news when the revelation is that ALL of the guys with all of the money are horribly corrupt.



Maybe that's "new news" to you, but I'm pretty sure the rest of us had that bit figured out.



Well its new news to Matt Taibbi, as he said in the clip. But then you're smarter than him Racer...
or you are in the advanced stages of brain shrinkage from your vegan diet.


I'll take the compliment (#1).

The second issue, shrinkage, I might point out, is one you might be familiar with through...













wait for it...

















wifepenis.

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 Post subject: Re: The LIBOR scandal
PostPosted: Mon Jul 16, 2012 2:15 pm 

Joined: Sat Dec 04, 2010 5:24 pm
Posts: 777
Can't believe it took Horns to post this, LIBOR is as big as it gets. Sure, we all know the sytem is rigged and corrupt, but we lacked the public evidence to prove it. Politically, this is equal to the difference between believing the Higgs particle must exist, because of theory, and accurately measuring a boson a 125 GeV in a cyclotron.

It's the linchpin scandal that lays bare the entire falsity of the "free market." At its core, all monetary policy is simply the shared agreement amongst elites on what value(s) money should be allowed to have in its various incarnations. Citizens assume that's there are rules of both laws and math over monetary policy, but LIBOR shows how that system is so gamed, so tilted to the insiders, so based on manipulated perceptions and faux expertise that it absolutely fails as a basis for an economic system (unless you like Nigeria as your country's financial model). You should be outraged and you should tell your reps you are outraged.

Infographic oversimplifying LIBOR: http://www.businessinsider.com/infograp ... ned-2012-7


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 Post subject: Re: The LIBOR scandal
PostPosted: Mon Jul 16, 2012 2:21 pm 
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Joined: Sun Dec 05, 2010 11:38 am
Posts: 652
Location: Albuquerque, NM
Stick it, man.

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 Post subject: Re: The LIBOR scandal
PostPosted: Mon Jul 16, 2012 2:59 pm 
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Joined: Mon Dec 06, 2010 12:15 am
Posts: 1551
Location: Los Angeles
^ Stickman has it right.

Financial corruption is SO massive and SO insidious it has eclipsed any party affiliation. Both republicans and democrats are bought off to look the other way.
(Goldman Sachs was the top Obama donor during his election)

Dennis Kelleher is the closest thing to Elliot Ness that we will see in our lifetime.

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check it:
http://www.pbs.org/wnet/need-to-know/vi ... nks/14255/

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 Post subject: Re: The LIBOR scandal
PostPosted: Tue Jul 17, 2012 2:37 am 

Joined: Wed Dec 08, 2010 4:06 am
Posts: 1137
Location: Zurich
This isn't as big a deal as the media is making it out to be.


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 Post subject: Re: The LIBOR scandal
PostPosted: Tue Jul 17, 2012 12:35 pm 
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