US Students Detected Libor-Fixing Years Before Banking Scandal

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US Students Detected Libor-Fixing Years Before Banking Scandal

US Students Detected Libor-Fixing Years Before Banking Scandal

RIA NOVOSTI-

In April 2010, University of Minnesota graduate students Connan Snider and Thomas Youle released a paper suggesting that leading global banks were manipulating the Libor—the world’s most important lending rate—to benefit their own trading positions.

The two economists shopped the paper to academic finance journals but were repeatedly rebuffed, according to Snider, now an assistant professor of economics at UCLA.

“We were told that what we were doing was not interesting or important,” Snider said in a recent interview.

Two years later, however, their research is more relevant than ever.

[RIA NOVOSTOI]

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2 Responses to “US Students Detected Libor-Fixing Years Before Banking Scandal”

  1. Charles Reed says:

    It what I been telling the government for two year about Ginnie Mae and the fraud of the Mortgage Backed Securities, and the fact that its rigged from day one, because they don’t have any underlying collateral to support the securities that were sold.

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