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Yanked from Obscurity: Why Finance Experts Are Rethinking LIBOR
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******************************** Yanked from Obscurity: Why Finance Experts Are Rethinking LIBOR http://knowledge.wharton.upenn.edu/index.cfm?fa=viewfeature&id=1980 First, U.S. Bankers raised questions about how the daily London Interbank Offered Rate was calculated, and then The Wall Street Journal demonstrated that the rate was inexplicably diverging from what the data suggested it ought to be. Getting it right is important, because LIBOR is the basis for many kinds of loans. The British Bankers Association says it will make changes.
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