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Started By
Message
LIBOR Scandal
Posted on 6/5/14 at 9:12 am
Posted on 6/5/14 at 9:12 am
Is it something you're familiar with?
Or not?
Or not?
6
Posted on 6/5/14 at 9:17 am to Sleeping Tiger
I don't care because my libor based liabilities that I manager have a low cost and I am not encumbered with stupid derivative make whole positions.
My problem could be when there is a rise in rates - am I properly match funded and/or do I have a proper hedge plan in place ?
My problem could be when there is a rise in rates - am I properly match funded and/or do I have a proper hedge plan in place ?
Posted on 6/5/14 at 9:37 am to nelatf
You're gonna care when the global bubble pops.
Posted on 6/5/14 at 9:53 am to Sleeping Tiger
If it does it does....I have done the best that I can do to protect the assets of the group I work for. Additionally, I believe I am well positioned with my personal investments and retirement if "the global bubble pops".
Life is too short to be worried about everything all the time. Plan accordingly, surround yourself with people that have experience, good analytical skills and some comment sense and you will be OK.
Life is too short to be worried about everything all the time. Plan accordingly, surround yourself with people that have experience, good analytical skills and some comment sense and you will be OK.
Posted on 6/5/14 at 10:37 am to Sleeping Tiger
quote:
You're gonna care when the global bubble pops.
So you don't really know what you're talking about.
Posted on 6/5/14 at 10:40 am to Sleeping Tiger
I am.
I am also familiar with you being a poor debater with minimal intellect. So, in light of that, please tell me more about your knowledge.
I am also familiar with you being a poor debater with minimal intellect. So, in light of that, please tell me more about your knowledge.
Posted on 6/5/14 at 10:57 am to TheHiddenFlask
Another yes here.
Awaiting OP's point.
Awaiting OP's point.
This post was edited on 6/5/14 at 10:58 am
Posted on 6/5/14 at 11:12 am to Sleeping Tiger
Yeah, I'm vaguely familiar with it.
Collusion to manipulate it or something to that effect...?
Collusion to manipulate it or something to that effect...?
Posted on 6/5/14 at 11:33 am to Sleeping Tiger
Somewhat familiar with it. Why do you ask?
Posted on 6/5/14 at 11:33 am to Sleeping Tiger
quote:I can't wait to learn from you how a couple of basis points difference in LIBOR is going to cause a global bubble to pop.
You're gonna care when the global bubble pops.
Posted on 6/5/14 at 4:04 pm to LSURussian
And that is how you handle a troll.
Good job MT Board.
Good job MT Board.
Posted on 6/5/14 at 4:37 pm to Sleeping Tiger
quote:
Is it something you're familiar with?
Very.
Are you?
Posted on 6/5/14 at 4:40 pm to BennyAndTheInkJets
Hey since we are talking about banking and the OP is long gone, what is the going rate for a senior ERM position at a $10 Billion dollar institution?
Got offered a nice position, but I'm coming out of five years of audit with a focus on data analytics and forensic work.
Got offered a nice position, but I'm coming out of five years of audit with a focus on data analytics and forensic work.
Posted on 6/6/14 at 9:38 am to TheHiddenFlask
quote:This was a typical MoSleepingGrayTigerBack thread.
And that is how you handle a troll. Good job MT Board.
Start a thread with zero knowledge or experience in the topic of the thread just to appear intelligent and get up being pwned by other posters.
Posted on 6/6/14 at 10:03 am to Sleeping Tiger
Yes, i wrote several research papers on it. Very scary stuff how a dozen or so people with no oversight could control and manipulate the entire monetary system of the world.
Posted on 6/6/14 at 11:28 am to kingbob
quote:
Very scary stuff how a dozen or so people with no oversight could control and manipulate the entire monetary system of the world.
Take that to the poliboard where they don't know better, you'll have more luck there.
This post was edited on 6/6/14 at 11:29 am
Posted on 6/6/14 at 1:03 pm to kingbob
quote:
Yes, i wrote several research papers on it.
What were your conclusions in these papers and why?
Posted on 6/6/14 at 6:12 pm to BennyAndTheInkJets
The ability of bankers to manipulate the libor was based on the complete ineptitude of regulatory oversight and the repeal of the Glass-Steagall Act which had kept investment houses and commercial banks from operating under the same roof. It only would take half a dozen people acting in unison at the world's largest banks to manipulate the libor rate up or down. Such actions on large portfolios of assets could increase or decrease the value of large portfolios of libor based assets (like those of many municipal and corporate pension program trusts) by the tune of hundreds of thousands of dollars per day.
With time and greater collusion comes value manipulations that can increase by orders of magnitude per day. Spread out over several years, it absolutely could have had an effect on the market. What exactly the effect of that manipulation was can never truly be quanitified as the actual extent of manipulation remains unknown. However, it has already forced the resignation of many high level executives at the largest international banks as well as record fines for Barklay's among others.
With time and greater collusion comes value manipulations that can increase by orders of magnitude per day. Spread out over several years, it absolutely could have had an effect on the market. What exactly the effect of that manipulation was can never truly be quanitified as the actual extent of manipulation remains unknown. However, it has already forced the resignation of many high level executives at the largest international banks as well as record fines for Barklay's among others.
Posted on 6/6/14 at 6:21 pm to kingbob
quote:Why wouldn't it be a zero-sum game?
(like those of many municipal and corporate pension program trusts)
Posted on 6/6/14 at 7:15 pm to kingbob
quote:
complete ineptitude of regulatory oversight
This I'll agree with, cross-checks should have been in place.
quote:
the repeal of the Glass-Steagall Act
Please explain how a US law covers the London InterBank Offered Rate.
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