A week before I did a story on the manipulation of the London Interbank Offered Rate   “LIBOR Manipulation : ny thing for you Big Boyz ”

As the blood flows from the proverbial carcass of Former Barclays chief executive Bob Diamond and political pressure claims the scalp of COO Jerry del Miser, the key focus up to what extent Barclays is culpable for the Libor saga and just how much markets should fear litigation and rolling heads at other head institutions.

I have tried to put in the understanding and the importance of LIBOR.

LIBOR has been called “the highway of finance” because it serves as the universal interbank benchmark interest rate used to price cash instruments in the real economy (deposits and loans) and short Continue reading