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Oil companies raided for price fixing

Started by Sheilbh, May 14, 2013, 06:54:55 PM

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The Minsky Moment

#15
May 15, 2013, 05:42:08 PM
Unless I am mistaken about how the price reporting works, the comparison to LIBOR seems inapt.
The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.
--Joan Robinson

Admiral Yi

#16
May 15, 2013, 05:58:26 PM
Quote from: The Minsky Moment on May 15, 2013, 05:42:08 PM
Unless I am mistaken about how the price reporting works, the comparison to LIBOR seems inapt.

The article suggests, without overtly stating it, that some contracts are fixed in terms of reported prices.
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