Original Article on Business Insider

The international probe into LIBOR manipulation rages on. LIBOR is a key benchmark rate used all over the world to set borrowing rates. According to the Wall Street Journal's Jean Eaglesham and Joe Palazzolo, some ex-UBS traders may get leniency if they dish on their LIBOR-manipulating ex-coworkers. U.S. prosecutors have agreed to shield several former UBS AG employees from criminal charges in return for their cooperation with the escalating investigation of suspected interest-rate manipulation, according to a person close to the probe. The leniency deal was offered to former traders and other employees who had relatively junior-level jobs at the Swiss bank, the person said....The deals don't necessarily mean that any settlement by UBS or a...(read more)