scandal in mozambique, it lost billions of dollars during the collapse of the us hedge fund, it was involved in the collapse of another firm, was involved in the collapse of anotherfirm, so was involved in the collapse of another firm, so all of this put together, he was brought in to steady the ship, to make things stable again but he has become the story himself and having become the story, an embarrass offal the company it appears he is on his way out. there is a leader who is taking responsibility, resigning having broken the rules. responsibility, resigning having broken the rules. well, absolutely, althou~h, broken the rules. well, absolutely, although. you broken the rules. well, absolutely, although, you know, broken the rules. well, absolutely, although, you know, you broken the rules. well, absolutely, although, you know, you have - broken the rules. well, absolutely, although, you know, you have to i broken the rules. well, absolutely, i although, you know, you have t
and new, today, we are seeing a memo the treasury secretary geithner said years ago, back when he was head of the new york fed, fox business network got a copy of it, and it suggests that officials knew there was something trning going on in the interest rate market at that time. this all goes back back to barclays in britain, after they admitted they lied of the interest rates they pay to borrow money from other banks. that affected what all of us paid on our loans, credit cards, mortgages, car payments, you name it and the newly obtained documents could shed light on what happened. james rosen with the news like for us in washington, dc. james? the newly released documents from the new york fed suggest that america s central bankers had early idea of the lending scandal surrounding the libor rate, the average, rate banks
financial scandal and what u.s. regulators knew about it and when. fox business network got a copy of a 2008 memo from treasury secretary timothy geithner back when he was president of the new york federal reserve. t suggests regulators knew banks might have been providing misleading information about how they set interest rates. rates effect how we all plane on loans, mortgages, credit cards, student loans and more. james rosen is live in washington with details on us. thanks. john, good evening, these documents by the new york fed today show america s central bankers had early glimpses of the lending scandal surrounding the average interest rates that the banks in the u.k. charge each other. barclay has already paid out a half billion-dollar settlement and top officers there have resigned amid disclosures that the large british bank misreported data in order to fix the rate. other u.s. and uk banks are now under investigation. these new documents show that back in april of 2008, wh