'Are any primary dealers going to be fired?'
With Libor back in the news, here's a look at Bernanke's testimony from late July. This is actually pretty decent work from Waters. She questions Bernanke on primary dealers and whether any are going to be 'fired' by the Fed if found to be guilty of Libor manipulation. Yeah, right. She also asks Ben for his opinion on eminent domain seizures in California as well as the OCC program to compensate victims of foreclosure fraud.
Let's have a look under the FRBNY hood. Since the Chairman's testimony 6 months ago, HSBC, Barclays and UBS have all been fined and have since settled with regulators.
Might there names still appear on the following list?
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