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Today, the Justice Department brought charges against three former employees of the inter-dealer broker firm ICAP for their roles in the Libor manipulation that went on between the mid-2000s and 2010. In this case, Tom Hayes, a trader at UBS, is alleged to have colluded with the inter-dealer brokers charged today to coax other banks into lying about Libor. The interest rate manipulation had effects that cascaded across the financial system.