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READ Read the "Finance in Action" in Chapter 8 of your text concerning ethical behaviors associated with manipulation of the LIBOR. Finance in ACTION LIBOR Price-Fixing Scandal Ethics During the sum of 2012. was coming to scrate your own ered by Brwions that the LOR Barchands of Swede Landon Interbank Offered te weet of the processus med USON there that to Banks were weg Barces and ewing that the rate wit of $6.0 Moming truth status wolpey to borrow one of the best and then bonite, not the tor Arsed and the duman ve CEO of sbb the London Brigitte More that rendheid LIDOR ve bu pays $14 to Thomson Reuters and by the time the cas como Thomson Reum, Oh Dari the boten 25 ene 125 forte portiere 50 m theredey There are Evide US Fedeve 100 a Row to get badly 2007 etc Oportant this that they did thing they were the way to end med for any use some former concluding of and other Thema on Whaber hogy of the LIDO contando DOLOR on the outer the Role the resthofa tot 100 wysThey wie Em 2012 of best to There were worden RESPOND After reading, answer the following questions being sure to provide examples supporting your position What is your reaction to this article? Are ethical behaviors in finance different that ethical behaviors in other aspects of life Defend your position and provide examples Provide outside resources to support your response . ION LIBOR Price-Fixing Scandal ICS During the summer of 2012. was discov: ered by British regulators that the UBOR (London Interbank Offered Ratel was being manipulated LIBOR the rate that banks are willing to lend to each other it is the rate that a bank estimates it would pay to borrow from another bank. It is an estimate, not the actual amount that the bank paid. Every day the London banks participating in the rate set ting process send ther estimated LIBOR rate to Thomson Reuters an international financial deta company. Thomson Reuters throws out the top and bottom 25 percent and uses the middle 50 percent of the rate quotes to list the current doy LIBOR rate. There are over 100 different LIBOR rates for many existing matunities LIBOR an important rate because the most widely used base rate in the world It is the base rate used for home but adjustable rate toons commercial ans, derivative swaps and other Financial tions. When we say base rate becue the rate is adjusted for high quality borrower might Day LIBOR plus 2 percentand a low quality borrower mot pay LIDOR Alus 5 or 6 percent. The amount of face value tracts that may be peved to the LIBOR has been estimated to be between on and $800 and the actual could be even higher It turns out that in the summer of 2018 group of trade and compra the rates There were quotes with trader broken promising to scratch your back if you scratch mine Barclays and UBS of Switserland were at the heart of this process, but as many 16 banks were investigated. Barclays and uos palaines of about $6.0 billion, making it one of the largest scandals in banking his tory. As a result VBS fired 18 traders and the respected CEO of Barclays. Bob Diamond, restaned. Morgan Stanley estimates that 11 banks could pay total lines up to $1 billion by the time the investigation is done. For example, Deutsche Bank greed to pay $2.5 billion in for its participation in the rate ning sch Evidently the US Federal Reserve sum bected the bad boy 2007 and nified tegulatot Finn Sie Authority they didn't do with the nail ashion wond this icon with tanquem Daug Cach the former dar propriuary trading of PMorgan always lowed color and market manipulation and crimen de hoof Diction or the propriate individurid quence or senio angement Parol with would be do Set by stor. Un holy th CH k der CA NOW READ Read the "Finance in Action" in Chapter 8 of your text concerning ethical behaviors associated with manipulation of the LIBOR. Finance in ACTION LIBOR Price-Fixing Scandal Ethics During the sum of 2012. was coming to scrate your own ered by Brwions that the LOR Barchands of Swede Landon Interbank Offered te weet of the processus med USON there that to Banks were weg Barces and ewing that the rate wit of $6.0 Moming truth status wolpey to borrow one of the best and then bonite, not the tor Arsed and the duman ve CEO of sbb the London Brigitte More that rendheid LIDOR ve bu pays $14 to Thomson Reuters and by the time the cas como Thomson Reum, Oh Dari the boten 25 ene 125 forte portiere 50 m theredey There are Evide US Fedeve 100 a Row to get badly 2007 etc Oportant this that they did thing they were the way to end med for any use some former concluding of and other Thema on Whaber hogy of the LIDO contando DOLOR on the outer the Role the resthofa tot 100 wysThey wie Em 2012 of best to There were worden RESPOND After reading, answer the following questions being sure to provide examples supporting your position What is your reaction to this article? Are ethical behaviors in finance different that ethical behaviors in other aspects of life Defend your position and provide examples Provide outside resources to support your response . ION LIBOR Price-Fixing Scandal ICS During the summer of 2012. was discov: ered by British regulators that the UBOR (London Interbank Offered Ratel was being manipulated LIBOR the rate that banks are willing to lend to each other it is the rate that a bank estimates it would pay to borrow from another bank. It is an estimate, not the actual amount that the bank paid. Every day the London banks participating in the rate set ting process send ther estimated LIBOR rate to Thomson Reuters an international financial deta company. Thomson Reuters throws out the top and bottom 25 percent and uses the middle 50 percent of the rate quotes to list the current doy LIBOR rate. There are over 100 different LIBOR rates for many existing matunities LIBOR an important rate because the most widely used base rate in the world It is the base rate used for home but adjustable rate toons commercial ans, derivative swaps and other Financial tions. When we say base rate becue the rate is adjusted for high quality borrower might Day LIBOR plus 2 percentand a low quality borrower mot pay LIDOR Alus 5 or 6 percent. The amount of face value tracts that may be peved to the LIBOR has been estimated to be between on and $800 and the actual could be even higher It turns out that in the summer of 2018 group of trade and compra the rates There were quotes with trader broken promising to scratch your back if you scratch mine Barclays and UBS of Switserland were at the heart of this process, but as many 16 banks were investigated. Barclays and uos palaines of about $6.0 billion, making it one of the largest scandals in banking his tory. As a result VBS fired 18 traders and the respected CEO of Barclays. Bob Diamond, restaned. Morgan Stanley estimates that 11 banks could pay total lines up to $1 billion by the time the investigation is done. For example, Deutsche Bank greed to pay $2.5 billion in for its participation in the rate ning sch Evidently the US Federal Reserve sum bected the bad boy 2007 and nified tegulatot Finn Sie Authority they didn't do with the nail ashion wond this icon with tanquem Daug Cach the former dar propriuary trading of PMorgan always lowed color and market manipulation and crimen de hoof Diction or the propriate individurid quence or senio angement Parol with would be do Set by stor. Un holy th CH k der CA NOW