from Silver Doctors:
CNBC’s Rick Santelli has just called Ben Bernanke’s Senate testimony regarding LIBOR manipulation the ‘Smoking Gun’ the Fed was involved and manipulated rates.
“The fed chairman and the e-mails partially in the journal today all talked about discussions that were known to the chairman. Right here, he said that the manipulation of rates was a little bit low by certain banks but they just wanted to show they were healthy during the crisis. Manipulation is manipulation!!! People on the trading floor heard that! They thought basically that’s the smoking gun, whether it is Geithner, Gensler, and Chairman Bernanke, they knew submissions were low!”