Starting in 2012, an international investigation into the London Interbank Offered Rate(LIBOR), revealed a collusion beginning in 2003 between Deutsche Bank, Barclays, UBS, Rabobank, and the Royal Bank of Scotland to manipulate LIBOR for profit. What was the nature of this fraud and what effect has it hadon the global financial system?

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In 2003 the collusion between Deutsche Bank Barclays UBS Rabobank and the RBS was aime... View the full answer