Little Timmy knew that the LIBOR interest rates were being manipulated clear back in 2008, had a witness who testified about it and swept it under the rug, until now.
David Dayen over at Firedoglake has an interesting post up right now about Little Timmy getting hammered by the House Financial Services Committee.
Geithner is fucked.
Here is one snippet from DDays post, I will link to it and I highly recommend you go read the whole thing because this is just starting to get the daylight it so deserves and I can guarantee you that some heads are going to roll over this whole deal. This is world wide theft on a scale that boggles the mind.
When Geithner ran the New York Federal Reserve Board, they failed to inform US regulators that they had an admission of guilt from a Barclays employee that the Libor was being rigged. The Commodity Futures Trading Commission and the Justice Department had to build their case without the direct evidence of rigging that Geithner and his staff knew all about.
That right there is the smoking gun.