manipulation can affect other areas of the market as well. a recent example is the libor rigging scandal. libor is a benchmark rate that banks charge each other for short-term loans and is regarded as an important measure of trust between major global banks. the scandal involved traders at 10 firms, which the uk’s serious fraud office alleged had conspired to manipulate the libor benchmark between 2006 and 2010 in order to keep it artificially low.
what does libor scandal mean to you?
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