Discover and read the best of Twitter Threads about #exotics

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"The most important number in #finance", the London Interbank Offered Rate (#LIBOR), died a shameful death at the age of 52.

The interest rate benchmark underpinned more than $300 trillion in financial contracts before being marred in a scandal that lasted ~ a decade.

A short🧵 Image
2/ The scandal came into the limelight in 2008 but there is evidence that collusion between banks was going on since 2003.

🤥 “We know that we’re not posting, um, an honest” rate, a Barclays employee told a New York Fed official in April 2018.

How was it done?
3/ #Barclays was a key player.

Barclays would submit its #LIBOR estimate, claiming that it was lower than what other banks actually charged it.

A lower rate indicated a smaller risk of default & is considered a sign that a bank is in better shape than another bank. Image
Read 11 tweets
🐎 #CreekFire #FresnoCounty

Evacuating & need a place for #horses in the #Clovis area? The Double S Horse Ranch has 70+ pens avail. 📱559-392-6972

Facility 🔗 doubleshorseranchclovis.com

🔗 facebook.com/39953074687698…

#California #DAT #Equine #MaderaCounty #Evacuations #Animals
🐎 #CreekFire #FresnoCounty

▪6 acres to store trailers
▪Can dry camp
▪Some horse pens, fenced pasture & a chicken coop
▪Large fenced backyard
▪Located below Marshall station

📱Lizz Weaver Call/text 559-797-5237

🔗 m.facebook.com/story.php?stor…

#California #DAT #Horses #Animals
🐎 #CreekFire #FresnoCounty

Evacuating & need a place for #horses in the #Clovis area? The Double S Horse Ranch has 70+ pens avail. 📱559-392-6972

Facility 🔗 doubleshorseranchclovis.com

🔗 facebook.com/39953074687698…

#California #DAT #Equine #MaderaCounty #Evacuations #Animals
Read 32 tweets

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