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After Fraud, the Fog Around Libor Hasn’t Lifted

The Libor market, we now know, was a fraud. There were few — if any — real trades backing the indicator. This week the scandal claimed its second top European banker and treated us to more of those delightful emails and electronic chats in which traders discuss their deceptions.

via After Fraud, the Fog Around Libor Hasn’t Lifted – NYTimes.com.

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