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from Business Insider
[Information from this site may not be reliable.]REICH: This Is The Wall Street Scandal Of All Scandals
Just when you thought the Street had hit bottom, an even deeper level of public-be-damned greed and corruption is revealed. What’s the most basic service banks provide? Borrow money and lend it out. You put your savings in a bank to hold in trust, and the bank agrees to pay you interest on it. Or you borrow money from the bank and you agree to pay the bank interest. How is this interest rate determined? We trust that the banking system is setting today’s rate based on its best guess about the future worth of the money. And we assume that guess is based, in turn, on the cumulative market predictions of countless lenders and borrowers all over the world about the future supply and demand for the dough. But suppose our assumption is wrong. Suppose the bankers are manipulating the interest rate so they can place bets with the money you lend or repay them – bets that will pay off big for them because they have inside information on what the market is really predicting, which they’re not sharing with you. That would be a mammoth violation of public trust. And it would amount to a rip-off of almost cosmic proportion – trillions of dollars that you and I and other average people would otherwise have received or saved on our lending and borrowing that have been going instead to the bankers. It would make the other abuses of trust we’ve witnessed look like child’s play by comparison. Sad to say, there’s reason to believe this has been going on, or something very much like it. This is what the emerging scandal over “Libor” (short for “London interbank offered rate”) is all about.
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from The Guardian (UK)
[Information from this site may not be reliable.]
Data are or data is?
Is it singular or plural? It's a word we use every day here on the Datablog - but are we getting it completely wrong?
Data are or data is?
Is it singular or plural? It's a word we use every day here on the Datablog - but are we getting it completely wrong?
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from The Spokesman-Review
Agency’s ability to manage, enforce act is still in doubt
Education investment: College students face tough choices
Study: Parasite in cats ups suicide risk
T. gondii travels from rodents to felines
Chris Cargill Special to The Spokesman-Review
Dairy farms counting on security act
Dick Ziehnert Special to The Spokesman-Review
City barricades shooting-prone road
Home annexed after several drive-by attacks
Pendleton apartments destroyed by brush fire
Aging boomers ready to shed their possessions
Rebecca Nappi The Spokesman-Review
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