U.K. Had Responsibility for Libor, Geithner Says
July 25 (Bloomberg) -- U.S. Treasury Secretary Timothy F. Geithner says it was the responsibility of U.K. regulators to address possible manipulation of the London interbank offered rate after he told them of his concerns when he was president of the Federal Reserve Bank of New York in 2008.
He testifies about the Financial Stability Oversight Council's annual report before the House Financial Services Committee in Washington. (This is an excerpt from the hearing. Source: Bloomberg)