'LIBOR Manipulation Only HALF the Story is Being Reported'
''Virtually all of the present mainstream press commentary is centred around the fact that Barclays somehow made huge profits on the blatant attempts to manipulate the banks reported LIBOR rates lower. However this is less than HALF of the actual story, the fact is that the prime reason why senior bank staff jumped onboard the LIBOR market manipulation band wagon several years ago was to give the illusion to the market of solvency during credit crisis extremes when the LIBOR market would freeze, when the reality was that Barclays along with all of the major banks were Insolvent, bankrupt, having made and lost huge over leveraged sums that were many times the amount of capital the banks had hence the banks lied, lied about virtually everything including LIBOR to prevent market panic and a Lehman's style collapse. Off course to prevent actual insolvency required huge amounts of capital injections, loans and other extreme measures such as QE free money to prevent bankruptcy which the politicians who are highly critical today have been more than culpable in offloading onto the backs of tax payers starting in September 2007 with the Northern Rock bailout.''read more
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