The LIBOR Scandal

    Download Podcast | iTunes | Podcast Feed On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss the LIBOR scandal, its impact on the world’s financial markets, what banks are involved. We’re brought to you as always by Stephen Clouse and Associates. If you’d like to email us, you can do so at bjackson[at]coffeeandmarkets.com. We hope | Read More »

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    The LIBOR Scandal

    Download Podcast | iTunes | Podcast Feed On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss the LIBOR scandal, its impact on the world’s financial markets, what banks are involved. We’re brought to you as always by Stephen Clouse and Associates. If you’d like to email us, you can do so at bjackson[at]coffeeandmarkets.com. We hope | Read More »

    Some financial news

    Stratfor: The London Interbank Offered Rate (LIBOR), which is the interest rate banks use to lend money to each other, dropped Oct. 17 to 1.67 percent — not only the lowest level since the recent crisis began, but the lowest in four years. This is a sign that moves to reverse the course of the global financial crisis are taking hold (Continued) The critical metric | Read More »

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    Could this be why the credit markets are screwed up?

    I am no financial wizard, so let me just throw this suggestion out there. Perhaps this is the reason why the credit markets are screwed up and the LIBOR is so high: http://www.foxnews.com/story/0,2933,435524,00.html Why borrow from each other when you can borrow from Ben Bernanke instead, with far lower risk, and maybe even a chance that the government will forgive your debt at some point | Read More »

    A Note About LIBOR

    Several of our conservative friends have pointed to the very large reduction in the LIBOR interest rate between Tuesday and yesterday as evidence that the credit crisis is easing. LIBOR is one those arcane things no one but geeks should need to understand. It’s a notional interest rate published at 11:00 AM GMT every day in London. It represents an adjusted average of the “offers” | Read More »

    Armageddon, Apocalypse, and AIG

    Yesterday was the first day of the rest of Wall Street’s life. At the beginning of this year, there were five major broker-dealers. In March, the Bear Stearns Companies were acquired by JP Morgan Chase with a large assist from the Federal Reserve. Yesterday, Lehman Brothers filed for Chapter 11 bankruptcy. On Sunday, Merrill Lynch agreed to be acquired by the Bank of America. As | Read More »