Barclays & Libor Scandal
BARCLAYS & THE[pic 1]LIBOR SCANDALTable of ContentsExecutive Summary 3Introduction 32a LIBOR 32b Importance of LIBOR 32c Parties governing LIBOR 4LIBOR scandal 53a Zero Sum Game 53b Stakeholders of LIBOR 5Barclays’ involvement 64a Barclays’ wrongdoing (Continue checking from HERE) 64b Factors contributing to the wrongdoing 64c Ethicality of jumping onto the bandwagon 74d Diamond’s involvement 84e What should have been done when competitors are cheating 9
4f Ethicality of acceding to the regulator’s request to cheat 9Who is at fault? 105a Parties involved in the scandal 105b Most responsible party 10Steps taken 116a Assessment of efforts to fix LIBOR 116b Further suggestions to improve the LIBOR setting process 12Conclusion – Possibility of fixing LIBOR? 12Bibliography 13Executive SummaryThis report provides an overview and analysis of the LIBOR scandal in 2008. It examines the derivation of LIBOR and its importance in the economy today due to the pervasive use of LIBOR in international markets. The widespread utility of LIBOR is reason for the scandal’s immense magnitude.