Reuters reported over the weekend that arrests are forthcoming in a probe exploring manipulations of one of the world’s most important benchmark lending rates.
The London Interbank Offered rate dictates payments on everything from car loans to mortgages to complex derivatives.
All the evidence points to the fact that traders were submitting false data that determines this rate for years, but the motives for this behaviour during the financial crisis were far different than the impetus for rigging long beforehand.
So who gets arrested makes all the difference. Watch our daily video to hear why.
Produced by Daniel Goodman
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