The Libor Fix

July 26, 2012

by Satyajit Das

Depending on context, the word “fix” can mean “set” or “determine,” “manipulate” or “rig” as well as “repair” or “correct.” “In a fix” means to be in difficulty. In colloquial use, “fix” is a dose of an addictive substance that is habitually consumed. The current furor surrounding manipulation of money market rates contains all these meanings and more.

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