Friday, July 13, 2012

The one crucial question in the LIBOR scandal

Barry Ritholtz pointed to this graphic portrayal of the LIBOR scandal as a good explanation.

But, no one I know of yet has asked the question I think should be the crucial question in the halls of power and in public discussions: 

If markets can manipulate interest rates for private gain, wouldn't it be better to let governments manipulate interest rates for the common good?

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