The LIBOR Scandal and Interest Rate Rigging: The London Interbank Offered Rate (LIBOR) serves as a benchmark interest rate for trillions of dollars in financial contracts worldwide. However, allegations of manipulation and rigging of LIBOR by major banks have cast doubt on the integrity of the global financial system. Conspiracy theorists claim that these banks colluded to manipulate LIBOR rates for profit, influencing everything from mortgage rates to derivatives contracts. They argue that this widespread fraud underscores the corrupt nature of the financial industry and the need for greater transparency and accountability in global markets. While regulators have taken steps to reform LIBOR and hold banks accountable for their role in the scandal, concerns about market manipulation and regulatory capture persist.
The Libor Conspiracy
