Letter of the Lew: Treasury comments on change of guard at troubled IRS

May 17, 2013

Here are comments from a U.S. Treasury official on Secretary Jack Lew’s meeting with incoming Acting IRS Commissioner Daniel Werfel this morning, following a scandal of political targeting that cost the previous acting commissioner his job. Treasury officials knew about the problem as early as last June, according to this report in the Wall Street Journal:

‘What’s it got to do with me?’ Turning a blind eye to Libor lies

July 18, 2012

Barclays was fined a record $450 million last month by U.S. and UK authorities for manipulating the London Interbank Offered Rate, or Libor, the interest rate that underpins transactions worth trillions of dollars worldwide, between 2005 and 2009.  More than a dozen banks are expected to be drawn into the scandal, which is being probed by authorities in North America, Europe and Japan.