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Libor scandal: FSA chief Lord Turner to face MPs over rate abuses
Source: U.K. Telegraph
Lord Turner, head of the Financial Services Authority, is today expected to be criticised by MPs for being slow to react to Libor abuses which American regulators picked up nearly five years ago.
MPs will demand to know why the FSA's investigation into Libor started only in 2009 when, according to explosive documents released on Friday, the New York Federal Reserve had evidence of abuses at British banks in 2007 and 2008.
Read more: http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9401760/Libor-scandal-FSA-chief-Lord-Turner-to-face-MPs-over-rate-abuses.html
Just heard it in a station break during 60 minutes.
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