Case Study:
The LIBOR Scandal: Is it Okay If Everyone Does It?
Question 1-Who are the stakeholders in this case? Who would be hurt by rate fixing?
Question 2-What responsibilities did senior executive at Barclays have to prevent fraud in circumstances that, in Timothy Geithner's words, "created not just the incentive to underreport, but also the opportunity to underreport?
Question 3-If the LIBOR scandal is as widespread as ongoing investigations suggest, are there ethical issues involved in this case that are different from those that would be involved if only Barclays was guilty? What are they?