'Dude! I owe you big time': Barclays Libor-fixing emails come to light
By Rebecca Burn-Callander Thursday, 28 June 2012
Quote of the day: 'Done... for you big boy'. This is the message sent by a Barclays banker to a trading pal, who had asked him to fix a key lending rate artificially low. This is just one of a number of emails being investigated by UK and US regulators. Barclays stands accused of manipulating the Libor rate - the rate at which banks estimate they will lend to each other. And there is little doubt over the its culpability - Barclays has already agreed to pay $453m in fines.
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Another happy trader, thanking a banker at Barclays for an artificially low rate, sent this doozy: 'Dude, I owe you big time! Come over one day after work and I'm opening a bottle of Bollinger.'
Read the full Barclays story here
Further Reading
- Serious Fraud Office to investigate Libor scandal
- 'I love Barclays!': Bob Diamond stonewalls select committee
- All change at Barclays as Diamond steps down
- Why banks need to play their PR better
- Banks found guilty of mis-selling to SMEs, too
- Bob Diamond faces calls to resign over Barclays Libor scandal
- The causes of bank mis-selling
- Barclays boss bashes government over tax-avoidance
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