5:24am

Thu July 19, 2012
Business

Interest Rate Scandal Follow Up

Originally published on Thu July 19, 2012 8:01 am

An influential group of bankers comes up with the critical interest rate known as the LIBOR. The world uses it as a benchmark for how much to charge consumers on mortgages and other loans. For more on how the rate is set, Renee Montagne talks to Gillian Tett of the Financial Times.