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[–] goodluvin 0 points 3 points (+3|-0) ago 

Fed to Barclays: Lower your Libor rate submission quotes.

Classic Catch 22..

Trader: If I lower my rates, I admit manipulation.
Else, If I don't, I piss off the Federal Reserve and my boss. Likely be out of a job.

Bottom line:
Fed should never have called Barlcays to ask them to lower the rates. But no one at the Federal Reserve is even being mentioned for any wrong doing.

Barlcays had higher rates because they are/were a smaller bank. Hence riskier.
Original quotes were valid.

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[–] pyres 0 points 2 points (+2|-0) ago 

'Traders have been served up as fall guys to protect these more powerful senior bankers'

Well DUH, that's what patsies are paid for.

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[–] jesus_is_lord 0 points 1 point (+1|-0) ago 

But ye have despised the poor. Do not rich men oppress you, and draw you before the judgment seats?

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[–] postfascion ago 

Winge, winge winge.... like it's fucking news that his superiors are complicit. When you dance with the devil....