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FBN’s Rich Edson on lawmakers considering criminal charges against individuals in the interest-rate manipulation scandal.
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Hello everyone I'm Gerri Willis regulators and congressional staff holding a closed door briefing today on the interest -- fixing scandal.
And what progress authorities are making their investigation into Libor.
Adding to the speculation whether or not individuals in the US could be facing criminal charges to rich -- in Washington DC rich why the meeting.
Not well Jerry and a fifty minute update on Capitol Hill right now basically you've got this two track.
Investigation going on first you're trying to find out if there are more banks more individuals responsible for manipulating Libor going back.
2007 and beyond that but you've also got this investigation.
Of the investigators especially congressional Republicans and house financial services committee.
They want to find out what regulators -- the New York fed knew when they knew these things that the Libor had been manipulated.
By Barclays and and outbid the speculation is an admittedly others.
And so you've got this now with the New York fed president then being now Treasury Secretary Tim Geithner some Republicans are looking for answers.
On that front -- -- response this last week was that look we told UK regulators there were problems with this.
We gave them a long list of recommendation it was on them to act.
But the Republicans counter that the US should follow up a little more thoroughly did take four years -- partners to get those those penalties agreed to in two different countries.
Rich thank you for that appreciate your time.
