Bloomberg News

Geithner Was Silent on Barclays Libor Admission, Wash. Post Says

July 25, 2012

U.S. Treasury Secretary Timothy Geithner, when he headed the Federal Reserve Bank of New York four years ago, didn’t tell regulators that Barclays Plc (BARC) had admitted to Fed officials that it was rigging the London Interbank Offered Rate, the Washington Post reported, citing unidentified people familiar with the matter.

Instead, officials at the Commodity Futures Trading Commission and the Justice Department worked largely without the Fed’s assistance to construct a case against the U.K. bank, the newspaper said.

Geithner, who will deliver testimony to a House committee this morning, has said the New York Fed did everything in its power, the Post reported.

To contact the editor responsible for this story: Alan Purkiss at apurkiss@bloomberg.net


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