This Week on Between The Lines

Posted July 11, 2012 for week ending July 20, 2012

lede

"(Major financial institutions) were reaping enormous profits from what is basically insider trading. If they can set the rate then they can bet that the rate will be a certain place. There was collusion."

– Truthdig.com's Editor-in-Chief Robert Scheer on why the global interest rate-fixing LIBOR scandal is the "Wall Street crime of the century" that makes Bernie Madoff and Enron's Ken Lay look like rank amateurs



Listen to the entire program using these links, or to individual interviews via the links appearing prior to each segment description below.

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Human Rights Group Calls for an Immediate International Arms Embargo Against Syria's Government

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Interview with Sanjeev Bery, Amnesty International’s advocacy director for the Middle East and North Africa, conducted by Scott Harris

syria

As escalating violence in Syria moves towards a 17th month, the Syrian Observatory for Human Rights estimates that the death toll now exceeds 17,000. As pressure mounts for the international community to take action to quell the violence in Syria, the government of Russian President Vladimir Putin has shown signs of distancing itself from its longtime ally in Damascus. Moscow recently announced that it would restrict new arms shipments to Syria, even as it continues to honor past military contracts with the government of President Bashar al-Assad. Russian diplomats also recently met with a delegation of opponents of the Syrian regime, signaling that they may be preparing for a future Syria without Assad.  Story continues

On Behalf of Their Children, Parents' Group Steps Up to Confront Generational Consequences of Climate Change

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Interview with Mark Hertsgaard, journalist and author, conducted by Melinda Tuhus

climate

The year 2012 is on track to be the hottest in recorded history, while high temperatures and drought conditions have been linked to destructive forest fires and other natural disasters that are exactly the kinds of occurrences that climate scientists have predicted will come with global warming.  Story continues

International LIBOR Scandal is Latest Example of Financial Sector’s Culture of Corruption

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Interview with Robert Scheer, author and editor-in-chief of Truthdig.com, conducted by Scott Harris

LIBOR

The latest scandal to erupt in the world of finance involves the little-known London Interbank Offered Rate, or LIBOR. Data submitted by major banking institutions is collected, calculated and used as a benchmark to determine interest rates for interbank loans, as well as $350 trillion worth of consumer products such as credit cards, private student loans, auto loans and adjustable-rate mortgages. Investigations in the United Kingdom and the U.S. have uncovered evidence that LIBOR interest rates have been intentionally manipulated by banks over a period of years.  Story continues

This week’s summary of under-reported news

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Compiled by Bob Nixon

 

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