Floating rate: Difference between revisions

Floating rate (view source)

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-{{g}}An [[interest rate]] that floats, by reference to inter-bank offered rates, or central bank base rates, or that kind of thing. The [[London Interbank Offered Rate]] — fondly known as [[LIBOR]] — cue [[dramatic look gopher]]<ref>
+{{a|g|[[File:Dramatic Chipmunk.png|450px|frame|center|DID SOMEONE SAY [[LIBOR]]???]]}}An [[interest rate]] that floats, by reference to inter-bank offered rates, or central bank base rates, or that kind of thing. The [[London Interbank Offered Rate]] — fondly known as [[LIBOR]] — cue [[dramatic look gopher]] — was once the daddy of interest rates, but it has rather fallen upon hard times.
-[[File:Dramatic Chipmunk.png|450px|frame|left|DID SOMEONE SAY [[LIBOR]]???]]</ref>
- — was once the daddy of interest rates, but it has rather fallen upon hard times.
-Once thought of as a sleepy corner of the financial markets inhabited by losers who couldn't get a job trading anything sexy like [[Credit derivative|credit derivatives]] but boy did a few folks who thought that get a surprise in 2012.
+Once thought of as a sleepy corner of the financial markets inhabited by losers who couldn’t get a job trading anything sexy like [[Credit derivative|credit derivatives]] but, ''boy'' did a few folks who thought that get a surprise in 2012.
+They’re in jail now.
-They’re in jail now.<ref>Mind you, so are quite a few credit derivatives traders.</ref>
 {{Google2|Libor|Scandal}}
 {{ref}}