Everybody Does It: Convicted UBS Libor "Ringmaster" Tells It Like It Is On Wall Street

From Forbes

One of the most striking aspects of the recent criminal trial of Tom Hayes, former UBS trader, was his defense that everyone knew Libor rates were being manipulated.

At his trial for colluding with others to rig the London Interbank Offered Rate (Libor) while at UBS, Hayes testified the practice was “industrywide.”

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