The New York Fed plans to release documents showing it took ''prompt action'' four years ago to highlight problems with the benchmark interest rate known as Libor and to press for reform. Karey Wutkowski offers 3 key things to look for in the paper avalanche. (July 12, 2012)
That -- that it's accurately trove of documents. About communications it happened partly for 2000. To 2008 or. Okay. It's expected that some of those documents have information about what the Fed may have known about attempts to manipulate light board. Looking for three things in the documents one is what the New York fed new. And when the so shed light on regulators whether or not this is something that they should have flagged earlier to the broader public. And they just sit on their hands and sending our pro active. About stopping attempts to manipulate library. The second thing we're looking for it is what Treasury Secretary Timothy Geithner may have known. About attempt to manipulate like -- at the time in 2008. He -- president of the New York -- so really looking closely for Geithner what he may have done. What he may have known about. Third of what we're looking for is Barclays what was their role in all of us they've settled. A you suit. That made an attempt to manipulate Libor 453. Million dollar settlement. We're day be pro active that the regulators about flagging this this issue and did they say any information about other banks' involvement. It's.