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Read and educate yourself, you are the one without facts here.
About why Barclays was pushing the submissions lower:
At the onset of the financial crisis in September 2007 with the collapse of Northern Rock, liquidity concerns drew public scrutiny towards Libor. Barclays manipulated Libor submissions to give a healthier picture of the bank's credit quality and its ability to raise funds. A lower submission would deflect concerns it had problems borrowing cash from the markets.
About what index is used for variable mortgages (*hint* it is not LIBOR):
What is a Standard Variable Rate?
A Standard Variable Rate is (rather obviously) a type of variable rate – this means your payments can go up or down according to movements in interest rates. Unlike a tracker, a Standard Variable Rate (or SVR) does not track above the Bank of England Base Rate at a set percentage.
What is the Bank of England Rate
Changes are recommended by the Monetary Policy Committee and enacted by the Governor.
The comment I replied to is just a random mix of poorly used facts to bash against banking without understanding and jumping from imprecise facts to incorrect conclusions.
You seem to think that the big guy always win: in the U.S. it may be more true. But you forgot a big factor here: nobody will go in court to enforce such an agreement pointlessly: if you go to the court over a warehouse worker, and the jury goes against you because they find the agreement abusive, then you set a precedent which will weaken your position the next time you need to enfore such an agreement.
Therfore contrarily to what you said the small guy with a lesser job has actually not much to be scared of in reality.
I feel like that it is borderline in this case, it is not a commercial product but an open source project, you may not agree but shouldn't they be able to run their own project how they want ?
Does this infringe some kind of law in the US ?