UBS (NYSE:UBS) is the latest bank shown to be guilty of LIBOR manipulation, reporting the interest rates it would be able to receive in loans from other banks as being higher or lower than they actually were, to influence the standard on which interest rates are based. In this video, Motley Fool analysts Morgan Housel and Matt Koppenheffer discuss just how extensive the repercussions may be, how much of the big Wall Street banks' profit during the bubble years could have been due to LIBOR manipulation, and what could happen to those types of profit levels in the future once regulation in this area is instated.
Fool contributor Matt Koppenheffer owns shares of Bank of America. Fool contributor Morgan Housel has no positions in the stocks mentioned above. The Motley Fool owns shares of Bank of America and Citigroup Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
