libor scandal Flashcards
1
Q
What does LIBOR stand for?
A
the London Interbank Offered Rate
2
Q
What is the LIBOR scandal?
A
bankers at several major financial institutions colluded with each other to manipulate the London Interbank Offered Rate
3
Q
What is collusion?
A
secret operation or conspiracy in order to deceive others
4
Q
What problem emotional did the LIBOR scandal cause for the financial industry?
A
distrust
5
Q
What took place in response to the LIBOR scandal?
A
regulatory actions
