tag:blogger.com,1999:blog-3202774368551476669.post5658419931733330864..comments2023-09-15T16:21:31.980+05:30Comments on INDIAN CORPORATE LAW: The LIBOR Crisis and Corporate GovernanceUmakanth Varottilhttp://www.blogger.com/profile/12438677982004444359noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-3202774368551476669.post-78045763506857668632012-07-20T14:45:38.718+05:302012-07-20T14:45:38.718+05:30The finding says, "The lack of specific inter...The finding says, "The lack of specific internal controls, particularly in reviewing email communications, was one of the failures..............", shows importance of reading emails carefully.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3202774368551476669.post-90872974090182004652012-07-16T17:15:34.338+05:302012-07-16T17:15:34.338+05:30The Economist has a discussion about the use of au...The Economist has a discussion about the use of auction theory as an alternative to set the LIBOR. http://www.economist.com/node/21558573Umakanth Varottilhttps://www.blogger.com/profile/12438677982004444359noreply@blogger.comtag:blogger.com,1999:blog-3202774368551476669.post-35671136798120833582012-07-13T10:02:03.077+05:302012-07-13T10:02:03.077+05:30With any new rate the problems will still exist un...With any new rate the problems will still exist unless the rate can be set independently of the banks.DigitalAsianhttp://www.ideaindia.comnoreply@blogger.comtag:blogger.com,1999:blog-3202774368551476669.post-45964808862078319982012-07-12T08:49:43.631+05:302012-07-12T08:49:43.631+05:30@Badrinath. Thanks. In addition to the loss of cre...@Badrinath. Thanks. In addition to the loss of credibility, the banks involved seem to be facing dire financial consequences as well (http://www.business-standard.com/india/news/scramble-for-damages-starts-over-libor-fixing-scandal-/480178/). As for a possible alternative index, it would depend on the manner in which the rate is determined by that system, and whether some of the deficiencies found in the LIBOR system can be purged.Umakanth Varottilhttps://www.blogger.com/profile/12438677982004444359noreply@blogger.comtag:blogger.com,1999:blog-3202774368551476669.post-39671942078746363322012-07-12T07:59:24.190+05:302012-07-12T07:59:24.190+05:30most of the international contracts which provide ...most of the international contracts which provide for interest rate link it to LIBOR. Now that LIBOR has been discredited (to an extent) it is interesting to see if a new index would become the next LIBOR.Badrinath Srinivasanhttps://www.blogger.com/profile/11123853000962107353noreply@blogger.com