Tuesday, July 17, 2012

Bernanke Dodges Responsibility On Libor Scandal At Senate Banking Committee

Bernanke Dodges Responsibility On Libor Scandal At Senate Banking Committee  

Ben Bernanke 

The Fed's strategy in dealing with the Libor scandal is clear: Pass the buck early and often.
Federal Reserve Chairman Ben Bernanke followed that playbook to the letter in testimony Tuesday at the Senate Banking Committee, repeatedly telling lawmakers that the Fed had done all it could to respond to evidence that banks were manipulating a key interest rate. The primary responsibility for dealing with Libor, he said, rested with the British regulators and banks.

No comments:

Post a Comment