Erin Arvedlund on the LIBOR financial scandal
ListenGuest: Erin Arvedlund
ERIN ARVEDLUND, financial columnist for the Philadelphia Inquirer, has written a new book, Open Secret: The Global Banking Conspiracy that Swindled Investors out of Billions. It’s about LIBOR, the London Interbank Offered Rate, which determines interest rates for mortgages, student loans and more complex financial transactions and how for many years it was simply rigged by a handful of banks. She traces the financial scandal from its beginnings in 2008, when the Wall Street Journal broke the story of global manipulation, to present day as those responsible await punishment.
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