Libor overhaul may not rebuild investor confidence:

06/11/2008 | Bloomberg

Investor confidence may not rebound even as the British Bankers' Association undertakes its first overhaul of the London interbank offered rate in a decade. "It's clearly a step in the right direction but the announcement sounds like another public relations exercise by the BBA," said Stuart Thomson, a money manager at Resolution Investment Management Ltd. Libor is the benchmark interest rate for $360 trillion of derivatives, bonds and loans.

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