The Jolly Contrarian • 19 implied HN points • 11 Apr 24
- The concept of interest rates as a tradable financial instrument emerged in the 1980s, thanks to the development of interest rate swaps, marking a significant shift in the financial landscape.
- The manipulation of the LIBOR rate involved complex financial processes that led to criminal proceedings against several traders, highlighting ethical and legal dilemmas in the financial industry.
- The legal interpretation of the LIBOR Definition in the context of criminal law versus contractual interpretation raised debates around conflicts of interest, contractual obligations, and the application of criminal charges in financial settings.