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Opinion
Matt Levine

Levine on Wall Street: Libor and Lockups

Libor was a risk-free rate. Lockups can be waived when the stock is way up. Financial jobs aren't as bad as all that. The JPMorgan hack ... was pretty bad though?

What was Libor for?

New York Fed president William Dudley gave a speech yesterday about Libor manipulation that included this interesting paragraph: