Libor Scandal: New York Fed Silent On Barclays' Admission Of Rigging Benchmark Interest Rate

Treasury Secretary Tim Geithner. (File, AP)

The Washington Post:

Treasury Secretary Timothy F. Geithner has said that he sounded the alarm four years ago to regulators about problems with the benchmark interest rate known as Libor.

But Geithner, who was then head of the Federal Reserve Bank of New York, did not communicate in key meetings with top regulators that British bank Barclays had admitted to Fed staffers that it was rigging Libor, according to people familiar with the matter.

Read the whole story at The Washington Post

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