Jon Stewart Explains Libor

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Sometimes you just have to laugh, and with the ongoing debacle of Liebor – it's even more true as now the Swiss hedge fund community is dragged into the miasma – or else you'll cry. As the conspiracy theories morph into conspiracy fact, who better to explain that LIBOR is not the "mythical half wild-bore, half lion that was rumored to have killed Achilles' brother Jimmy" but is the "benchmark for all money-lending on errr, let's say Earth", than The Daily Show's Jon Stewart. From the concrete evidence that banks deliberately manipulated the world's most important interest rate – for the good of themselves. As Jon says, "never trust anything that rhymes with wankers". How did they do it? and what will the fallout be?

International Banking Actuality (Not Conspiracy) Part 37 – Libor (What is it? and Why Do We Care?)

 

 

 

International Banking Actuality (Not Conspiracy) Part 37 – Libor Fallout (How did they do it? and we hear of 'Rich Ricci' and Mr. Diamond's involvement, Hoare's disgust, the three things that are upsetting our economy, and the fallout)

 

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