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In Memoriam, Libor (1986-2021)

Summary:
“Libor to End in 2021 as FCA Says Bank Benchmark Is Untenable” – Bloomberg News, 27/7/2017So. Farewell ThenLibor.You were theLondon InterbankOffered Rate.Three hundred and fiftyTrillionDollars, pounds, yenThat’s how muchMoney they sayYou benchmarked.But reallyNo one traded you.Not good for aBenchmarkIs it?You were a fraudLike tradersWho committedFraud using you.(Allegedly.)It was done for youBig Boy.But now youAre done for.J.A. Cotterill (30½)Related link:E.J. Thribb – Wiki Copyright The Financial Times Limited 2017.

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Joseph Cotterill
Joseph is the FT’s Southern Africa correspondent based in Johannesburg, after previous stints as private equity correspondent and on the Lex column. But he still writes for Alphaville, which he joined way back in March 2010 — right in the middle of the Greek bailout crisis. He has been very interested in all things credit and sovereign debt ever since…

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