Libor Case Scandal

[Date of Submission]

Libor Case Scandal

Introduction

The Libor scandal which took place recently has rocked the global financial and banking markets to its core. The London Interbank Offered Rate of LIBOR, the rate of interest which is used as a benchmark for banks to lend funds that are unsecured to one another. It was recently found that some banks have been responsible for mixing up the figures to create a facade of stability in a time where chaos rules.

Investigation has identified a number of banks as stakeholders who are being held up for investigation in the course of the LIBOR scandal.

Discussion

The ...