Originally posted on roopost:
It’s hard to imagine the lifestyle of a man who can open a bottle of Bollinger in response to a ‘favour’. And yes, while most people have cars, few drive V12 Mercedes and care little about the price of gas or the congestion charges in London. Most worry over the price per litre of petrol, and most leave their cars at home or in a commuter train lot as part of their daily commute.
Libor (London Interbank Offered Rate) is the interest rate established between banks when they lend to each other. It is based upon a set of metrics established by a sampling of banks’ rates. The middle rates are chosen as Libor and this serves as the rate for all.
Barclay’s Bank in England has been fixing Libor. Their ability to adjust the rate to their favour was limited to basis point changes (hundredths of a percent), yet…
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