@moorehn @cafreeland As said in another twt: 10 days ago, that explanation could hold water. Now? Totally indefensible (even if accurate).
Because it started outside US! @moorehn: I am baffled why the mass media thought CREDIT DEFAULT SWAPS were okay but LIBOR is too hard. God.
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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@cafreeland@moorehn Because the word libor is weird & in US the Fed sets the prime rate so it seems less outrageous than it is.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@moorehn@cafreeland See, I am a confused American! (Oops!). What does the Fed set? The rate it lends to banks?Thanks. Twitter will use this to make your timeline better. UndoUndo
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@cafreeland@moorehn Paying commercial lease rates based on LIBOR since 2003, over inflated rip-off!Thanks. Twitter will use this to make your timeline better. UndoUndo
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