A former senior trader at Rabobank pleaded guilty on Monday to participating in a scheme to manipulate the yen Libor rate, becoming the second employee of the Dutch-based lender to admit guilt in a US investigation into alleged manipulation of interest rate benchmarks worldwide. Paul Robson, a British citizen who also submitted Rabobank's rates used to calculate the London InterBank Offered Rate for the yen, conspired to manipulate the submissions to benefit trading positions between 2006 and 2011, the US department of justice said. Robson entered his plea before the district judge, Jed Rakoff, in Manhattan to one ... (full story)