The Economist (July 7)
The latest banking scandal may have been a tipping point in the court of public opinion. “The attempts to rig LIBOR (the London inter-bank offered rate), a benchmark interest rate, not only betray a culture of casual dishonesty; they set the stage for lawsuits and more regulation right the way round the globe. This could well be global finance’s “tobacco moment”.
The latest banking scandal may have been a tipping point in the court of public opinion. “The attempts to rig LIBOR (the London inter-bank offered rate), a benchmark interest rate, not only betray a culture of casual dishonesty; they set the stage for lawsuits and more regulation right the way round the globe. This could well be global finance’s “tobacco moment”.
Tags: Banking, Global finance, LIBOR, Regulation, Scandal, UK
