yes
but neither you or I really know what that actually means in terms of impact on anything. Because they aren't actually borrowing real money. They are moving around things that don't exist for the purpose of betting on things that haven't happened yet.

Also, none of us know whether this even matters. After all, the stock market and traders existed perfectly happily up until the late 80s doing exactly what they are being fined for now, which is setting their own transaction rates.
( the mighty badger Aphrodite, on a bar stool, by your side, Thu 28 Jun 2012, 10:55, 1 reply, 13 years ago)

well, that kind of trading ain't as much as you think.
as far as how a bank operates as a whole.
libor borrowing is used for servicing lending books or covering where items are falling due mostly.
I like to think of it as a big gay daisy chain where they all cum one at a time and pass it on.
( mark morrisons prison shoes I love Willie, Thu 28 Jun 2012, 10:58, Reply)

yeah, like I said, I probably understand about 10%-20% of it.
I'm not claiming otherwise. I just think it's a bit daft getting mad about something about 0.001% of the population understand.

I'm also yet to be convinced that it actually makes a difference to anything? especially if all banks are doing it. And I'd be awful suprised if Barclays have some kind of cunt monopoly on investment bankers.
( the mighty badger Aphrodite, on a bar stool, by your side, Thu 28 Jun 2012, 11:01, Reply)