Explaining Libor and Examining Who’s Most-Affected by Interest Rate Scandal—Steven Berk

Let’s get this out of the way: a network of global banks conspiring to fix an extremely influential interest rate in order to see huge financial gain is absolutely terrible, especially when the world’s financial system is strained as much as it is. What makes this Libor scandal unique, possibly leading to less public outrage than is warranted, is that it’s somewhat hard to begin to understand. To help explain exactly what Libor is, the nature of the scandal and who’s most-impacted by it, we bring in Steven Berk of Berk Law PLLC and See more +

Let’s get this out of the way: a network of global banks conspiring to fix an extremely influential interest rate in order to see huge financial gain is absolutely terrible, especially when the world’s financial system is strained as much as it is. What makes this Libor scandal unique, possibly leading to less public outrage than is warranted, is that it’s somewhat hard to begin to understand. To help explain exactly what Libor is, the nature of the scandal and who’s most-impacted by it, we bring in Steven Berk of Berk Law PLLC and The Corporate Observer. See less -