Geithner yawned at epic fraud

Posted by on Jul 16, 2012 at 7:37 am

Tim Geithner had evidence of a financial crime of epic proportion — so he wrote a memo.

That’s about the only way you can sum up the then-New York Fed boss’ actions several years ago, when he was confronted with fairly compelling evidence that banks under his direct supervision were manipulating Libor — a key benchmark of global finance.

The Libor scandal has become pretty big news, with Barclays ousting its CEO and agreeing to pay a large fine even as it cooperates with civil and criminal law-enforcement authorities now investigating other big banks.

Full story.

One Response to “Geithner yawned at epic fraud”

  1. chris on 17/17/12 at 11:04 pm

    DumBHO made Timmy an honorary member of the Choom Gang.

    He joins an elite crew of Choomsters running economic policy

    Short version of Bernanke/Choomster policy: War on savers, war on producers, victory to the ticks.