LIBOR EXPERT: The Fed Has Destroyed LIBOR - Business Insider

LIBOR EXPERT: The Fed Has Destroyed LIBOR - Business Insider

 "My colleagues and I, we say that [LIBOR] is 14 bps over the federal funds rate...as a joke," the trader told Business Insider, pointing to the uncanny correlation between the two rates up until 2007 and since 2009. When the rate at which banks lent to each other began to jump in late 2007, however, "the system couldn't take it at all," he added.