Senate Committee to Question Geithner, Bernanke on Libor (from Bloomberg.com)

The Senate Banking Committee will question U.S. Treasury Secretary Timothy F. Geithner and Federal Reserve Chairman Ben S. Bernanke on the scandal surrounding the London interbank offered rate.

Committee Chairman Tim Johnson said in a statement that he will question Geithner and Bernanke at regularly scheduled hearings this month. Geithner is set to testify before the banking committee on the Dodd-Frank financial overhaul act, while Bernanke will deliver his semi-annual monetary policy report. Johnson didn’t say whether he would have a separate hearing on Libor, which is used as a benchmark for $360 trillion in global securities.

Johnson’s panel joins the House Financial Services Committee in seeking information on the scandal that prompted Barclays Plc Chief Executive Officer Robert Diamond to quit last week after the U.K.’s second-biggest lender was fined a record 290 million pounds ($450 million) for attempting to rig interest rates. At least a dozen banks are being investigated for manipulating Libor.  More…

Leave a Reply: (What... You're shy?)

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s