Treasury Secretary Timothy Geithner on Thursday said he did not know whether three major US banks were involved in the manipulation of a key benchmark borrowing rate.
Answering Senate Banking Committee questions about Bank of America, Citibank and JP Morgan Chase’s possible roles in the global Libor fixing scandal, Geithner referred lawmakers to investigators.
Asked whether he was aware of possible wrongdoing, Geithner said: “We don’t know that. But I think that is a question you need to refer to the enforcement agencies.”
“But I think that you are going to find, because this is still a confidential investigation they won’t be in a position to answer that question until the remaining investigation is brought to its natural conclusion.”
The three banks are on the panel that sets the US dollar interbank lending rate — which is the benchmark for a range of consumer products and is thought to have been widely abused.
Already Barclays has been fined $452 million by US and British regulators for its role in the scandal.
The US Securities and Exchange Commission and the US Department of Justice are said to be investigating.
Texas Republicans are abandoning the state’s GOP Speaker: ‘We no longer support him’
Some of the most powerful Texas House Republicans said Monday they no longer support GOP Speaker Dennis Bonnen, marking the biggest blow yet to his political future amid the fallout from a secret recording released last week by a hardline conservative activist.
Five Republicans considered senior members of the lower chamber issued a statement withdrawing support for him: State Reps. Four Price of Amarillo, Dan Huberty of Houston, Lyle Larson of San Antonio, Chris Paddie of Marshall and John Frullo of Lubbock.
Donald Trump is making a mockery of Marco Rubio — and the Florida senator is letting him
Sen. Marco Rubio was once one of Donald Trump’s most formidable opponents; now, the Florida senator bends over backward to excuse the president’s corruption.
In 2016, Rubio and Trump sparred frequently on the Republican primary debate stage. Trump picked the uninspired nickname “Little Marco” for the senator, which didn’t seem to do much damage on its own, but Rubio never gained the momentum or strength that his backers hoped would prove to be strong enough to take down the reality TV candidate. As Rubio grew desperate, he launched one of his most memorable and pitiful attacks by stooping to his opponent’s level, implying that Trump had a small penis. It was more of an embarrassing moment for Rubio than anyone else, though Trump helped himself with a crude rejoinder.
The faith of Fox News: How the network’s propaganda warps viewers’ sense of reality
A longtime sticking point among Fox News employees is their insistent differentiation between its news division, where employees practice actual journalism, and its opinion division, where employees practice actual nativism, spew misinformation, and have been actively campaigning for Donald Trump’s re-election since 2016. Inside the organization, they claim to believe that the news side is separate from the opinion side, and insist that the audience can tell the difference.
News anchor Shepard Smith once characterized comparing the two as “apples and teaspoons.”