…………….or ‘now what do you say about the conspiracy theories ?’
by Catherine Carr
I have spent a long time trying to work out why anyone would want to depress the lending rate (LIBOR) other than the cost of their funding was dropping….
As it was, the large banks were having to pay higher rates for their money as you would expect in a market of tight credit. So why would they start to lower the rate if it wasnt for someone demanding that they did so ?
Also remember that it wasn’t just Barclays they were all at it. I cannot imagine a conspiracy amongst the traders to do this. There must have been a higher authority telling them to do it.
Those are the Bank of England or the Treasury….
Otherwise this whole thing just doesn’t make any sense…