Matt Levine, Columnist

Ur-Libor and Mutual-Fund Power

Also Steven Mnuchin, Bridgewater, blockchain and unicorns.

November 30, 2016 at 2:17 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

Provide news feedback or report an error

Site feedback:

Take our Survey

The guy who invented Libor.

One good way to charge for your product, if you can get away with it, is to charge your customer whatever it cost you to manufacture, plus a little something for profit. Here's an excerpt from Gavin Finch and Liam Vaughan's forthcoming Libor scandal book, "The Fix," describing the 1969 invention of Libor by Manufacturers Hanover banker Minos Zombanakis as a way to make floating-rate syndicated loans: