It also envelops the banks who we now learn were engaged in fixing LIBOR rates.

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Barclays is currently reviewing its operations in the light of recent scandals over the fixing of Libor rates and PPI mis-selling.

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Around the country, insurers are fixing to raise rates by double digits.

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Longer-term mortgages could insulate homeowners to the fluctuations in interest rates, by fixing their repayments for up to 25 years.

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Keynes stated in 1930 that tax-financed wealth redistribution was a smarter way to help the poor than fixing wages at above-market rates.

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Mr Miliband says he wants to make it easier to prosecute bankers who misbehave -- such as the employees at Barclays, who colluded with others in fixing the inter-bank lending rates, or Libor.

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E-mails revealed as part of the rate fixing investigation showed traders were seeking beneficial rates for their trading positions.

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At present, the main ploy is fixing interest to low levels so the government can borrow money from its captive savers at below commercial rates, while eroding its debts via inflation rising faster than the rate of interest at which it borrows.

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Barclays has been fined by financial regulators for fixing Libor, not just during the financial crisis, but also as far back as 2005, when traders manipulated rates to increase profits.

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