LIBOR: The Free Loading Continues

Free market, free loaders run the LIBOR scam.

The Economist magazine describes it as “the rotten heart of finance.” Here are some of the e-mails that have come to light: A banker in on the fix writes another, “Dude. I owe you big time! Come over one day after work and I’m opening a bottle of Bollinger.” One employee after being asked to submit false information, answered: “Always happy to help.” And another, recruiting a colleague in the fix, wrote: “If you know how to keep a secret, I’ll bring you in on it.”