New Books in Sociology cover image

Mark W. Geiger, "Floor Rules: Insider Culture in Financial Markets" (Yale UP, 2024)

New Books in Sociology

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Unraveling the LIBOR Scandal

This chapter explores the 2008 LIBOR scandal, revealing how banks manipulated benchmark interest rates for profit and the broader ethical implications of their actions. The discussion highlights the impact of these manipulations on global finance, leading to significant penalties and a reevaluation of standards within financial markets.

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