LIBOR: Not a Scandal, but a Funeral
July 14, 2012 • 4:38AM

The real story surrounding the news that the London Interbank Offering Rate was manipulated is that the financial system that mechanism is a part has died, and a return to the Glass-Steagall Act in both London and the United States is the first step to replacing that system. For more on LIBOR see the LIBOR Package