Barclays Reportedly Manipulated Libor Since 2005

U.S. and British regulators investigating an alleged fixing of the London Interbank Offer Rate (LIBOR) tasted first blood today when British bank Barclays PLC (NYSE:BCS) (LON:BARC) agreed to pay at least $450 million to settle charges emanating from the probe, according to a report by Alexandra Alper and Kirstin Ridley of Reuters. The Libor is the basis for settling trillions of dollars worldwide in derivative transactions. Investigators, responding to allegations after the 2008 financial crisis that it was out of sync with banks’ actual borrowing costs, initiated a probe that grew to encompass the biggest names in banking, including Citigroup, HSBC, Royal Bank of Scotland…