DISCUSSION QUESTIONS
1. What ethical issues are involved in this case?
2. Who are the stakeholders in this case? Who would be hurt by rate fixing?
3. What responsibilities did senior executives at Barclays have to pre- vent fraud in circumstances that, in Timothy Geithner’s words, “cre- ated not just the incentive to underreport, but also the opportunity to underreport”?
4. If the LIBOR scandal is as widespread as ongoing investigations suggest, are there ethical issues involved in this case that are different from those that would be involved if only Barclays was guilty? What are they?
5. Who is responsible for the ethical integrity of such institutional practices as the LIBOR? Is anyone at fault for this fraud other than the individuals involved in reporting false information?