PERFECT TIMING! Libor Probe May Yield U.S. Charges by September with Presidential Election 2012 Around the Corner

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PERFECT TIMING! Libor Probe May Yield U.S. Charges by September with Presidential Election 2012 Around the Corner

PERFECT TIMING! Libor Probe May Yield U.S. Charges by September with Presidential Election 2012 Around the Corner

This is some pretty shameful/shameless leaking by DOJ-Libor Probe May Yield U.S. Charges by September – Neil Borofsky

Bloomberg-

Libor investigations on both sides of the Atlantic intensified as Barclays Plc (BARC) traders could face possible U.S. charges by September and British lawmakers may use hearings this week to expand their inquiry to other banks tied to the global financial scandal.

Barclays traders involved in allegedly manipulating Libor rates between 2005 and 2007 may be charged by U.S. prosecutors before the Labor Day holiday on Sept. 3, said a person familiar with the Justice Department investigation in Washington.

In London, Financial Services Authority Chairman Adair Turner will appear today with Andrew Bailey, head of U.K. banking supervision, and Tracey McDermott, the agency’s acting enforcement chief, at a parliamentary hearing where lawmakers may seek to elicit information on how the regulator is expanding its probe beyond Barclays.

“What they’d probably like to know from the FSA is what other investigations are in progress and what stages they’re at,” Ian Mason, a former director of the regulator’s enforcement division and now an editor at the Practical Law Co., said in a telephone interview in London.

[BLOOMBERG]

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