UBS is the latest bank shown to be guilty of LIBOR manipulation, reporting the interest rates it would be able to receive in loans from other banks as being higher or lower than they actually were, to influence the standard on which interest rates are based. In this video, Motley Fool analysts Morgan Housel and Matt Koppenheffer discuss just how extensive the repercussions may be, how much of the big Wall Street banks' profit during the bubble years could have been due to LIBOR manipulation, and what could happen to those types of profit levels in the future once regulation in this area is instated.
Many investors are scared about investing in big banking stocks after the crash, but the sector has one notable standout. In a sea of mismanaged and dangerous peers, it stands out as The Only Big Bank Built to Last. You can uncover the top pick that both we and Warren Buffett love today in our new report. It's free, so click here to access it now.
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