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.
100,000 body bags highlight Trump coronavirus failures in new Lincoln Project ad
‘Tempting fate and asking for trouble’: Dr. Fauci rips Ozark pool partiers for blowing off pandemic safety
Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, slammed the large crowds that gathered for a now-infamous pool party in Missouri over the weekend for blowing off social distancing guidelines.
During an interview with CNN's Jim Sciutto, Fauci was asked what he made of the people who were captured on video partying without keeping any distance or wearing any face masks.
"When you have situations in which you see that type of crowding, with no masks and people interacting, that's not prudent and that's inviting a situation that could get out of control," Fauci said. "So I keep -- when I get an opportunity to plead with people, understanding you do want to gradually do this, but don't start leapfrogging over the recommendations and guidelines because that's tempting fate and asking for trouble."
Your election angst is real: Trump’s gonna cheat and it could be total hell
Even though it was a comedy sketch, that line has been thrown in Democrats' faces ever since as an example of their arrogant elitism and failure to understand Real America. Don't you know that the average voter wants a president they can have a beer with, not some egghead know-it-all?