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Has the Libor Scandal Hurt London's Reputation?

Thursday, 12 Jul 2012 | 5:20 AM ET

"This is a very big blow for Barclays, it's a blow for banks, it's a blow for London, the question is how much? Because the first big bank to be fined is in London it is certainly having an adverse effect on reputation," Mark Boleat, policy chairman at the City of London Corporation, told CNBC.