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Finance - Investments Sub-forum: Non-Actuarial Personal Finance/Investing

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  #31  
Old 07-06-2012, 03:38 PM
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Call it "parameter risk" and you're good to go!
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  #32  
Old 07-08-2012, 09:58 PM
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where does the $450m fine for Barclay's go?
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  #33  
Old 07-08-2012, 10:25 PM
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Heard the "Planet Money" story on this. Good grief. Seems a dumbass idea in the first place to base anything important on a self-reported survey like this when there's got to be actual, you know, transactional data somewhere that could be used instead.

The email excerpts they read are astounding.
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  #34  
Old 07-09-2012, 12:47 AM
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Originally Posted by Pseudolus View Post
Heard the "Planet Money" story on this. Good grief. Seems a dumbass idea in the first place to base anything important on a self-reported survey like this when there's got to be actual, you know, transactional data somewhere that could be used instead.

The email excerpts they read are astounding.
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  #35  
Old 07-10-2012, 10:24 AM
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Marcus Agius was/is the Chairman of the BBA (and former Barclays chair)
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  #36  
Old 07-10-2012, 10:26 AM
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Marcus Agius was/is the Chairman of the BBA (and former Barclays chair)
Similar to how nearly everyone who has worked in a meaningful office in the US Treasury Dept also was an officer at Goldman Sachs at some point?
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  #37  
Old 07-10-2012, 12:30 PM
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amazing how insiders seem to get the posts that regulate, huh?
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  #38  
Old 07-11-2012, 08:37 AM
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Rate Scandal Stirs Scramble for Damages

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American municipalities have been among the first to claim losses from the supposed rate-rigging, because many of them borrow money through investment vehicles that directly derive their value from Libor. Peter Shapiro, who advises Baltimore and other cities on their use of these investments, said that “about 75 percent of major cities have contracts linked to this.”

If the banks submitted artificially low Libor rates during the financial crisis in 2008, as Barclays has admitted, it would have led cities and states to receive smaller payments from financial contracts they had entered with their banks, Mr. Shapiro said.

“Unambiguously, state and local government agencies lost money because of the manipulation of Libor,” said Mr. Shapiro, who is managing director of the Swap Financial Group and is not involved in any of the lawsuits. “The number is likely to be very, very big.”
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  #39  
Old 07-11-2012, 09:25 AM
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amazing how insiders seem to get the posts that regulate, huh?
well, if it wasn't an insider, people would be up in arms about how the person has no experience.
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  #40  
Old 07-11-2012, 09:47 AM
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This could be really ugly. As LIBOR is tied into damn near everything, damn near everyone is going to be able to point to some contract, over some period of time, where they can reasonably say "the rigging cost us money". (Contracts/time periods where the rigging might have actually made them money will be quietly nudged aside.)
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