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05-20-15 - Marketplace - Currency Manipulation

05-20-15 - Marketplace - Currency Manipulation

Airing on Wednesday, May 20, 2015: Five of the world's largest banks, including Citigroup and J.P. Morgan Chase, have been fined $5.7 billion for manipulating foreign exchange rates. The institutions rigged the benchmark London interbank offered rate, or LIBOR. We look at why LIBOR is important and matters to all of us. Next: One country’s currency manipulation is another’s monetary policy. Adding currency controls to the Trans Pacific Partnership is mired in controversy. We explain why by looking at the arguments for and against the partnership, and why this puts the U.S. in a tricky spot.