LIBOR and the LIBOR Scandal: What It is and What It Isn't
LIBOR -- formerly an acronym that was mostly known to and used by only certain bankers, borrowers, purveyors of derivative securities and, of course, their lawyers, is now seemingly on everyone's mind. Not a day goes by that every form of media does not contain a new article (or rant) about LIBOR and the scandal surrounding LIBOR. Stephen P. Lieske explains LIBOR, how LIBOR is set, and how it has been used in real estate lending transactions. It also addresses the scandal and some of the potential responses by applicable regulatory bodies.