Originally posted by Metal Brain
How serious is the LIBOR banking scandal? Some say it is a vast conspiracy to fix rates and should be the #1 news story. Is the news media giving proper coverage of this scandal?
Err.....in the UK it was the top news story!
As to seriousness, it relates to a fraud that probably affects, directly or indirectly, everyone posting on this forum, possibly everyone in the world. By institutions that nearly brought the world economy down, the consequences of which is threatening democracy in some European states, who have been granted trillions of $ of taxpayer support, and are run by individuals who still believe that they are worth millions in terms of pay and bonuses.
So, pretty important, yeh.