The idea that prices in a $379 trillion market could be dependent on a desk of about 20 guys in New Jersey should tell you a lot about the absurdity of our financial infrastructure.As Matt points out, Libor was just the tip of the iceberg. Not only did the banks make huge bets and then force taxpayers to bail them out when those bets failed; they have been straight-up stealing the whole time. There is no other word for it: this is stealing. If you did this you would go to jail.
The Biggest Price-Fixing Scandal Ever
Can anyone explain to me why conservatives are up in arms about an alleged conspiracy to fake climate change, but apparently can't care less about an actual (there have been successful court cases! with admissions of guilt!) conspiracy to loot whole nations?