07/27/12

Permalink Paul Craig Roberts - Libor Fraud Now Part of the System

One-on-One with Paul Craig Roberts #2: Former Assistant Treasury Secretary Paul Craig Roberts says, “The last thing the banks want is a rise in interest rates that would drive down the values of their holdings and reveal large losses masked by rigged interest rates.” The Libor rate rigging scandal was all about keeping the financial system and the big banks from failing. Forget prosecuting the perpetrators because Roberts says, “The minute those interest rates go up, the loss to people will just dwarf the interest rate loss.” Fraud is now part of the system that keeps it from crashing. Roberts has a PhD and was responsible for economic policy at the Treasury. He says, “We are probably headed for a crash anyway because I don’t think they can maintain this forever.” Join Greg Hunter as he goes One-on-One with Paul Craig Roberts. [Video]

Paul Craig Roberts: The Libor Scandal In Full Perspective
Paul Craig Roberts: The Real Libor Scandal ~ Paul Craig Roberts and Nomi Prins

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