Barclay's LIBOR manipulation

JasonLVC

Graham_Devon wrote: »

She's now trying to stand up for the mortgaged homeowners, suggesting they have lost out to market fixing, and should be able to look to compensation.

If Barclays manipulated the LIBOR rates downwards then that would mean mortgages would be artificially lower so arguably people have been under-paying interest charges as a result, not more.

Seeing as these events are predominantly between 2005-2009 maybe the then government were complicit in turning a blind eye to the matter as it would improve the economic statistics, artificially of course, which would also benefit the governments economic figures.....

JasonLVC

Debt_Free_Chick wrote: »

I find this side of politics a complete waste of time and money.

It's simply a willy-waving competition

True, but in fairness both sides of politics have some really big willies in top positions:D

ILW

Most of the bother seemed to have happened between 2005 and 2010. I do not think labour should be making too much fuss.

IveSeenTheLight

Graham_Devon wrote: »

Unfortunately, most of it happened on their watch.

I get sick of hearing politions harking on about the past.

Wouldn't it be refreshing if they focussed their attentions on the future and how to resolve issues that they currently are responsible to resolve.

IveSeenTheLight

JasonLVC wrote: »

True, but in fairness both sides of politics have some really big willies in top positions:D

The only Willie I can think of is William Hague
I thought he was shorter than average , so not big at all

ILW

IveSeenTheLight wrote: »

I get sick of hearing politions harking on about the past.

Wouldn't it be refreshing if they focussed their attentions on the future and how to resolve issues that they currently are responsible to resolve.

This whole thing is in the past, are you saying it should be ignored?

Debt_Free_Chick

JasonLVC wrote: »

True, but in fairness both sides of politics have some really big willies in top positions:D

You're clearly a man - I don't call those willies "really big"

:rotfl:

IveSeenTheLight

ILW wrote: »

This whole thing is in the past, are you saying it should be ignored?

Have you ever watched Prim Ministers Questions?
We also see Scottish Questions which the
The Scottish Secretary and his ministerial team are put on the spot by fellow MPs in their monthly question-and-answer session at Westminster

You could run a sweepstake on the amount of times a question is not answered but deflected with a remark about the previous administration.

Don't ignore history, learn from it and put that knwledge to good use improving the problem.

At the moment, it's just the best excuse a government seems to have on how they have not fixed something.

Thrugelmir

JasonLVC wrote: »

If Barclays manipulated the LIBOR rates downwards then that would mean mortgages would be artificially lower so arguably people have been under-paying interest charges as a result, not more.

Unless collusion is proven to have taken place between sufficient parties to influence the rate in a given direction. Then Barclays alone could not have moved the rate. Given the way LIBOR is calculated.

Debt_Free_Chick

Share price heading south - now down 15%