Morgan Stanley, Scandal | featured news

Those Pesky Derivatives Strike Again

Morgan Stanley

So just when we thought we had heard all about the threats the hazardous use of derivatives could unleash on to the economy, a leading bank [Morgan Stanley] apparently managed to find a new way to use them, this time to help gouge consumers of more than $150 million.

 

Banks’ Libor costs may hit $22bn

Twelve global banks that have been publicly linked to the Libor rate-rigging scandal face as much as $22bn in combined regulatory penalties and damages to investors and counterparties, according to Morgan Stanley estimates.

 

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