INFOGRAPHIC: The LIBOR Scandal Explained

The LIBOR scandal is being called the “Wall Street scandal of all scandals” and the “rotten heart of finance,” but the massive fraud can be hard to fathom for anyone who doesn’t follow the markets.

The London Interbank Offered Rate (LIBOR) is a benchmark interest rate used broadly all over the world and affects trillions of dollars of loans – mortgage loans, small-business loans, personal loans – worldwide.

This nifty infographic from AccountingDegree.net gives non-finance folk an idea of the scope of the scandal (h/t r/Politics):

libor

AccountingDegree.net

Read more: http://www.businessinsider.com/infographic-the-libor-scandal-explained-2012-7#ixzz20LVsYqXP

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s