“..Timothy Geithner defended his role in the growing Libor scandal on Wednesday, telling CNBC that he acted “early” and forcefully” after learning that banks were manipulating the key interest rate.
The Treasury Secretary has been under fire for more than a week for not acting forcefully enough in 2008 -
-when as then-president of the Federal Reserve Bank of New York -
- he learned that banks were rigging Libor -
- a key interbank lending rate – for their own profit…”
(cont..)
go to source/story>>
Timothy Geithner On His Role In Libor Scandal: ‘We Were Very Forceful From The Beginning’.
