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Explain briefly LIBOR and OIS rates and then comment on the following: 2008 crisis showed us that LIBOR has its limitations. Please explain what went

Explain briefly LIBOR and OIS rates and then comment on the following: 2008 crisis showed us that LIBOR has its limitations. Please explain what went wrong with using LIBOR during the 2008 crisis and explain in detail why you think that using OIS rates instead of LIBOR rates would be more efficient and accurate?

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