The Li(e)bor Rigging Scandal Infographic For Dummies

Tyler Durden's picture

Via Healthcare Administration,

Since (at least) 2005, Barclays has been manipulating LIBOR, and their traders have been allegedly pocketing $40MM a day betting on interest rate derivatives. If the LIBOR, one of the most fundamental metrics of our banking system can be rigged, can you imagine what other elements of our financial system are a fraud? This morning's comments from European regulators appears to confirm that this story has a long way to go as ECB's Almunia states: "The evidence we have collected is quite telling so I am pretty sure this investigation will not be closed without results."

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daveeemc2's picture

no, thats too personal and doesnt have the mass effect carlyle group wants.... this is more like it You eat stuff grown in your neighbors shit. Bon appetit.

Debtonation's picture

The uber large banks can just borrow from the Fed's discount window for ZIRP.

ITrustMyGut's picture

new Clif High ( Webbots guy ) up from yesterday....  pretty damn dark...


Caviar Emptor's picture

But but... if the big banks can bet on a change in interest rates AND also know ahead of time what they're going to chnage to...isn't that a little Dishonest? 

No! I can't accept it! They're too big to fail and too fat to impale! 

I want to get plugged back into the Matrix now....please!

Yohimbo's picture

Webbots are FAIL,  even High Clif Said that, and threw in the towel, saying "(sic) It Doesnt work" only to come back the next week, with more nonsense.

shokdee's picture

Cliff High has no dignity, every single "web bot" prediction has failed totally, yet he blubbers on. His last main predition about not seeing past May 2012, and that early May would be the end of the world as we know it. His post starts:

"Your last 26 days of life. On March 2, 2012, the zionists (isreali mossad and cia agents) who are the stooges of the central banksters, will attack an American naval ship (as they did with the USS Liberty). ...."

See for yourself here :

Web bot / Cliff High is a complete fraud.

WillyGroper's picture

gives new meaning to eat shit & die. Fracking fluids are disturbing as well.

runlevel's picture

ive never seen so many infographics for one event.

RacerX's picture

So where's the squid in all of this?

SilverDoctors's picture

Good question- no doubt Blankfein and Co were as much involved as JPM and BOA.

Jim Willie predicted in early June the 10 year would make a run to 1%, prior to an epic collapse in treasuries and an explosion in gold.
With the 10 and 30 year making new record lows today...looks like Willie nailed that one.

SilverTree's picture

Now all we need is the PM explosion.

tekhneek's picture

No way they'd manipulate that like LIBOR.


falak pema's picture

could one bet on manipulated backwardation trend of Libor in Barclay's via derivative swaps? That would be insider trading where the collusion would be evident. Did they?

daveeemc2's picture

Im just not suprised by any of this any more.

They got u by the balls, 24 hrs a day telling u wat to believe, what to buy. Its a big club, and YOU aint in it.

Sh!t stinks, no matter how you spin it.....

eclectic syncretist's picture

recognition of the problem is the first step towards fixing it, and you've recognized the problem.

I can't in good concious hold my nose and vote for either of the bimbos the repubocrats are offering as solutions.  I'm writing in Ron Paul if they won't put him on the ballet.  He's the only one who seems to know what you know.

Caviar Emptor's picture

Mitt might say that he'll become a banking Robin Hood, putting on tights and fighting the mighty cartel for the little guy! 

pods's picture

Hmmm, a prospective government employee wanting to help me, or not voting..................

I think I will go with the latter.


cbxer55's picture

Things that make you go hmmmm!

Somehow I just do not believe that Mittens in tights would be a help to anyone.

StychoKiller's picture

Duz majic underware float yer boat?  :>D

dirtbagger's picture

"All animals are equal, but some animals are more equal than others".  Orwell - Nothing new here move along.

asteroids's picture

"The wheels on the bus go round and round...." Until they fall off!

maxw3st's picture

Stay tuned, more to come...


Market riggings= bankster hangings. 


Expose these banking thieves for the cocksuckers they are.  Arrests!  Trials!  The Gallows!

yabyum's picture

Al, Let me tell ya: Wu's pigs!


Wu's pigs would spit out bankster flesh.

pods's picture

These banking thieves should be hung because they create credit and lend it out at interest.

And they have been doing that for over a hundred years in the USSA.


Pretorian's picture

Excellent picture. Wait until instead of Title "Libor Manipulation" says "FX Manipulation" syndicate. 

graneros's picture

""The evidence we have collected is quite telling so I am pretty sure this investigation will not be closed without results.""


We all know how this works.  Undoubtedly money will change hands a few inconsequential political enemy small fries will take the fall, lots of political posturing, a new law or two, then everyone will retire to the club for cocktails and entertainment with the more astute ones getting into the pretty blonde reporter's panties. Case closed. Story at 10.

Caviar Emptor's picture

I'm guessing there will be one fine and a few "firings". 

And yes, the politicians will compete to claim they saved the day. And then it's off to Berlusconi's house for the weekend

youngman's picture

Yes but the Lawyers smell money....and the cities and states are short of cash...and this looks like an easy i expect them to go for the throat...settlements of one will be found at fault...but I think it could be loans were tied to libor....

eclectic syncretist's picture

Class action suits on behalf of every person who has had any form of debt over the last several years! 

Sounds like the occasional suits against the legality of fiat money that get quickly dismissed on dubious grounds before they can every access the public conciousness where everyone would realize how effectively they've been screwing us.  I love it!  Keep those suits coming!

Caviar Emptor's picture

Did the Robosigning scandal get anywhere? That was supposed to be wirth trillions. 


Spastica Rex's picture

Yes, I think Mariah Carey is going to be a new judge on American Idol.

Wait: what did you ask?

BurningFuld's picture

How about class action suits from anyone who had any SAVINGS and got no fucking interest on it because of the manipulated fucking libor.

fasTTcar's picture

That would not get anywhere.

Everyone knows American's don't have savings.

Stoploss's picture

Anyone who had any kind of credit in the last 20 years has a case.


Hmm, ok, who hasn't had any kind of credit in the last 20 years..


Exactly.  These cocksuckers steal from everyone, all of us.  Time for the debt jubilee and let these crooks fall on their swords.

Mr_Wonderful's picture
A Letter From An Angry Banker - 'They Couldn't Wait To Kick Us When We Were Down'

It's a conspiracy.

'I have been reading the stuff in the press about HSBC and its alleged compliance failings in the U.S., and I admit I am seething.

There's all this talk about drug barons, terror organisations and terrorist states allegedly using HSBC to launder and transfer money - for years - and yet the 'establishment', which was quick to round on my own firm, Barclays, for its LIBOR rate fixing, does nothing.

Why isn't the UK government, quick to come out and condemn Barclays and its culture over LIBOR, all over this ? Oh wait a minute. Is that because the UK Trade Minister, Lord Green, was until faily recently a senior executive over at HSBC ? In fact, most of the admitted wrongdoings took place on his watch.

And what about a Parliamentary hearing (remember Bob Diamond, our former CEO, was called up in quick order to explain himself) ?

And the regulators - you know, the guys at The Bank of England and The Financial Services Authority who pressured our outgoing Chairman to give Bob the boot ?

But let's be honest, the authorities (and by that I mean Parliament, the Bank, and the regulators) never did like us. We were always considered to be loose cannons, pushing the envelope in our quest for profits. We were never forgiven for refusing a taxpayer bailout during the early stages of the financial crisis, when we were able to attract private funds to beef up our balance sheet instead. We were never forgiven for having a global investment banking franchise, and paying decent bonuses to bankers (HSBC, on the otherhand, is a bit player in investment banking, and was always rather frugal when it came to year-end bonuses).

And we were never forgiven for having Bob Diamond as our CEO. A brash American, whatever next ?

So, the first opportunity the establishment gets to nail us, it does. They couldn't wait to kick us when we were down. And we were shafted. Bye, bye Bob; bye bye investment banking; and bye bye my share options.

And as for HSBC ? Not a mumur. Just a conspiracy of silence. The whole thing stinks'.


fonzannoon's picture

Ah an angry banker jealous and pissed off. I think I hear a wambulance coming...


F him.

cougar_w's picture

But let's be honest, the authorities never did like us.

Kinda gives it away, don't it?

Occams Aftershave's picture

No articles I've read previous to this infographic have actually explained what the bankers did.   It's a bit bizarre that the best exposé appears on the website, but hey.... knowledge is where you find it.

Now I get it.   Most of the rigging and $40m/day profits took place years ago.  Nowadays, in the time of zirp, less so.   One would bet this rigged game was a mainstay in those quarters where banks never had a down trading day.

Rainman's picture what happens if the boyz are forced to play a straight game ??

Deutsche Bank takes a 42% profit dump in Q2

sampo's picture what happens if the boyz are forced to play a straight game ??

Libor @ 66,6%?

silverserfer's picture

its a circle jerk and someone diddnt finish their job.

SqueekyFromm's picture

How could a consumer be directly injured by a falsely low LIBOR??? I can see how a falsely high LIBOR could harm consumers. I can see how some idiot betting on derivatives could be screwed either way, but do I really care at all about the idiots who use, and bet, on derivatives??? Isn't the real problem for most people if the LIBOR falsely manipulated UP as opposed to DOWN.

Plus, if LIBOR was manipulated downward, didn't banks as a whole stand to lose as their own interest rate would net them less??? Am I wrong??? 

Squeeky Fromm, Girl Reporter

Rainman's picture

Seeing the future in 100% HD is MONEY !!!!!!