Wonder who was pushing Barclays to manipulate its rate? Why none other than the English Fed. From BBG: BARCLAYS SAYS BANK OF ENGLAND CALLED ON OCT. 29, 2008 ON LIBOR BARCLAYS SAYS DIAMOND MADE NOTE OF CALL BARCLAYS SAYS DIAMOND RECEIVED CALL FROM PAUL TUCKER BARCLAYS SAYS TUCKER SAID `CERTAIN' BARCLAYS DIDN'T NEED ADVICE BARCLAYS SAYS TUCKER SAID DIDN'T ALWAYS NEED TO BE SO HIGH (Probably LIBOR but who knows) BARCLAYS PROVIDES COPY OF DIAMOND'S CALL NOTE In other words, a central banks was directly and indirectly involved in manipulating interest rates. Say it isn't so. (full story)